Asset integrates with Plaid to securely access banking data from over 11,000 U.S. financial institutions. Leveraging Plaid is crucial for automating the collection of Transaction data from your Businesses’. Plaid connections allow you to pull up to 24 months of historical Transactions and keep new Transactions synced daily.

There are two ways to connect with Plaid in Asset:

  1. Use Asset’s Plaid Connection
  2. Use your own Plaid Connection

​
How to use Asset’s Plaid Integration

If your platform doesn’t already have a Plaid integration, Asset makes it simple to connect to your Businesses’ bank accounts and credit cards. We take care of all the technical details for you.

  1. Add the Plaid Link Component
    Insert Asset’s Plaid Link component into your product. This component will securely connect to your Businesses’ accounts and guide them through granting read-only access to their financial data.
  2. Begin Importing Data
    After a Business grants access, Asset automatically ingests the Transaction data from Plaid and converts it into Journal Entries.

​
How to use your own Plaid Integration

If your platform already has a Plaid integration, you can grant Asset access to your Businesses’ Transaction data via a Plaid Processor Token. Here are the steps to do this:

  1. Obtain a Processor Token from Plaid
    Generate a Processor Token associated with the bank accounts you wish to share with Asset. Use Processor/Token/Create from Plaid’s APIs.

  2. Provide the Token to Asset
    Send the Processor Token to Asset through the secure API. This enables Asset to link your existing Plaid integration to its accounting tools.

  3. Confirm Connection
    Once the token is validated, Asset will begin ingesting Transaction data from your Businesses’ connections. Transactions are then automatically transformed into Journal Entries.

    Questions? Reach out via our Contact form.