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Plaid rolls out Transactions for Business

Monday 2 June 2025 08:36 CET | News

Financial technology firm Plaid has announced the launch of Transactions for Business, a new solution that aims to simplify converting business bank account data into actionable insights. 

With this move, Plaid intends to deliver a solution that has expanded coverage, account type indicators, and purpose-built categorisation, assisting business financial tools in facilitating real-time visibility and optimal automation for small companies.

Plaid rolls out Transactions for Business

 

Plaid now supports business checking, savings, and credit accounts from approximately 95% of US banks that provide their services to small businesses, enabling customers to connect business accounts from over 4,500 financial institutions. These integrations were live at the time of writing, and no additional processes were required for existing Plaid customers. Additionally, through its account indicator, the company augmented how its users identify whether the bank account linked to their customer is a business or personal account. This ensures that workflows, risk models, and experiences are personalised based on the account type.

Launching a categorisation model for businesses

Until this solution, the majority of Plaid transaction data has been optimised for personal use cases, which required customers serving businesses to interpret raw transaction strings or develop their categorisation logic. With its Transactions API, Plaid rolls out a categorisation model specifically tailored to businesses. Currently in beta, this model is set to include 13 purpose-built business categories to support users in better understanding their customers’ finances, from inflows to outflows. The new categories include, however, not limited to, revenue, payroll, and loan payments. Also, they are developed on Plaid’s AI model trained on its network, with them being tested with real business transaction data to deliver relevant insights from every transaction.

Furthermore, with enriched business transaction data, users are set to be able to accurately provide business owners with the relevant information they require to take action. These updates facilitate the foundation to develop more intelligent financial tools that adapt to customers, whether the user is supporting automated accounting, simplifying tax prep, forecasting cash flow, or enabling efficient lending decisions.

Previous funding powering Plaid’s expansion

Back in April 2025, Plaid obtained USD 575 million in fresh funding, attracting new investors such as BlackRock, Fidelity, and Franklin Templeton. Since then, the company has introduced additional features, including new identity verification capabilities, aiming to make it harder for fraudsters to manipulate or bypass identity verification. At that time, the upgrades were available to all Plaid Identity Verification customers, with no integration required.

Moreover, as part of the launch of Transactions for Business, Plaid underlined that, throughout 2025, it plans to roll out more features and services, seeking to better support business financial use cases.

For more information about Plaid, please check out their detailed profile in our dedicated, industry-specific Company Database.


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Keywords: product launch, transactions , transaction monitoring, business insights, financial services
Categories: Banking & Fintech
Companies: Plaid
Countries: United States
This article is part of category

Banking & Fintech

Plaid

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