Plaid launches AI models for credit and fraud risk

Plaid has launched artificial intelligence models designed to help financial companies assess credit, fraud and payment risk.

The models are intended for use in lending and payments. They can help companies evaluate whether a loan applicant or transaction presents elevated risk.

Plaid, a financial-data network, did not provide details about the models’ technical design. The launch expands the company’s use of AI beyond data connectivity and into risk assessment.

Financial institutions and fintech companies may use the assessments when reviewing applications, authorizing payments or identifying potentially fraudulent activity.

Plaid has not disclosed the models’ release date, pricing or the customers using them. The company also has not published performance data comparing the models with existing risk-assessment systems.