Ted Tekippe

July 17, 2026

ZimpleMoney Integrates with Plaid Identity Verification For Enhanced Security

Starting Monday, July 20th, 2026, ZimpleMoney is rolling out a new layer of protection for every account holder on our platform: Plaid Identity Verification (Plaid IDV).

This update will streamline and further secure bank account validations for all ZimpleMoney users.
Both lenders and borrowers will now complete a quick identity verification step before connecting a new bank account via Plaid or entering bank details manually. If you already have a validated bank account connected to ZimpleMoney, there is no action required at this time.

Why We’re Adding Plaid Identity Verification

ZimpleMoney’s standard operating procedure for verifying identity has been through manual email confirmations. Plaid IDV automates this step, using bank-grade identity checks to ensure verification moves at the speed of business.

This means:

Enhanced fraud protection for your loan contracts and disbursements
Fewer delays in getting loan contracts live caused by manual verification
A seamless, professional experience for both lenders and borrowers

How the New Identity Verification Process Works

When you add a new bank account within the ZimpleMoney platform, you’ll notice one key change: Plaid IDV now happens first.

Here’s a breakdown of the new experience for existing customers, step by step:

Click “Add Bank Account” as usual from the My Profile tab, under Linked Accounts.
You can choose to click the “Start Validation” button to begin the process within the ZimpleMoney platform, OR the green text link “Send Verification Link to Mobile Phone instead” to start the process from your mobile phone. Note: the mobile phone you used to set up your ZimpleMoney account is required for completing Plaid IDV.
Follow the prompts from Plaid to complete identity verification. You will be asked to take photos of a government-issued ID, as well as a quick selfie from your phone. This information is cross-checked by Plaid’s system. You will only need to complete this once—not for every new bank account.
Once verification is successful, you can return to the “Add Bank Account” screen within ZimpleMoney to continue adding your banking details either using Plaid or by manual entry.

The entire process typically takes less than 5 minutes, and for most users it will feel like a natural extension of the account-linking experience you already know.

Borrowers will complete Plaid IDV when accepting their contract and adding their bank account for payment.

What Happens If Plaid Can’t Verify Your Identity?

In some cases, Plaid IDV may be unable to confirm your identity on the first attempt. This usually means Plaid needs clearer or updated information to complete the match.

If you see a “We are unable to verify your identity” message, try the following:

Double-check your details. Make sure the name, date of birth, and contact information you provided when registering for ZimpleMoney matches what’s on file with your bank and government-issued ID. You can check these details in your ZimpleMoney account under the My Profile tab.
Use good lighting and a clear photo. When taking your ID photos and selfie using Plaid IDV, ensure the image is well-lit, in focus, and free of glare.
Retry the process. Plaid typically allows multiple verification attempts. Most users who fail on the first try succeed on the second attempt after adjusting one or both of the issues noted above.

For a deeper dive into troubleshooting failed verification attempts, Plaid maintains a detailed help guide covering common causes and fixes. If you have tried these steps and still can’t complete verification, please reach out to our support team here and we will help you troubleshoot.

Watch Our Plaid IDV Video Tutorial

To see the new verification flow in action, check out the short video walkthrough below which covers exactly what to expect from start to finish.

Ted Tekippe is CEO of ZimpleMoney and a serial fintech entrepreneur with over 20 years of financial services experience. He has scaled successful ventures with multiple exits, including a $1 billion IPO, and previously held leadership positions at three major banks. Ted holds an MBA in Finance & Technology from UC Berkeley’s Haas School of Business and brings deep expertise in digital payments, lending technology, and regulatory compliance (BSA/AML). A sought-after speaker at industry conferences including Finovate, he applies his technical knowledge and strategic vision to solving complex challenges in private lending and payment automation.