Rocket Mortgage has launched Plaid’s Consumer Report solution to better evaluate client risk before making lending decisions.  

Plaid rolled out the AI-driven tool to help lenders improve decisioning by complementing FICO scores with other data, Michelle Young, product lead at Plaid, said during the Plaid Effect 2025 webinar.

The tool “delivers real-time data and analytics to help lenders with decisioning to more accurately assess risk,” Young said. “These insights are powered by proprietary machine learning models that enrich 500 million transactions daily across our network.” 

Consumer Report provides lenders with additional data points including average account balances, stable income and existing loans that don’t show up in credit reports, Young said, adding that the AI-driven tool compiles essential data points and provides it to the lender in a way that makes assessing risk easier. 

The tool also gives lenders access to a consumer’s interactions with more than 7,000 fintech apps on Plaid’s network, including personal finance apps or credit building apps that show a consumer’s financial habits, Young said. Consumer Report can also “detect financial distress before it appears on a credit report.” 

According to Plaid, the tool can:  

• Boost predictive performance of scoring by up to 25%;  

• Increase conversion rate by 25%; and  

• Reduce onboarding time by 25%. 

Rocket also taps Plaid for:  

• Asset verification; 

• Consumer spending management tools; and 

• Loan underwriting. 

The lender intends to build a proprietary data set with Plaid for its customers regarding financial health and financial touch points to better assess risk and qualification, Krishna said. 

Plaid’s AI efforts 

Plaid, a data network fintech, is improving its products with AI and focusing on three areas in 2025 for tech and solutions development. 

“AI is set to transform every aspect of our industry, rewriting what is possible,” Zachary Perret, chief executive at Plaid, said during the webinar. “Every company is reevaluating [its] digital finance strategy.” 

The company is using AI for: 

• Anti-fraud; 

• Lending tools; and 

• Code generation. 

“We’re seeing fintech formation at the most rapid pace that we’ve seen in years,” Perret said, adding that Plaid will continue using AI to drive innovation.