Link2Investors.com (“Link2Investors,” “we,” “us,” or “our”) uses certain services provided by Plaid Inc. (“Plaid”), a third-party financial technology service provider, to support identity verification and, where applicable, business checking account verification for users of the Link2Investors platform.
This section supplements the Link2Investors Privacy Policy and explains how Plaid is used as part of our user-verification procedures.
Link2Investors has three primary categories of platform users:
- Entrepreneurs
- Investors
- Service Professionals
Plaid is used differently depending upon the user’s role, as described below.
1. Purpose of Plaid Verification
Link2Investors is an online platform connecting Entrepreneurs, Investors, and Service Professionals.
To promote trust, security, and integrity within the Link2Investors community, certain users may be required to complete verification procedures before their profiles are approved or certain platform functionality becomes available.
Entrepreneurs
For Entrepreneurs, Link2Investors may use Plaid to:
- Verify the Entrepreneur’s identity; and
- Verify an applicable business checking account connected by the Entrepreneur.
An Entrepreneur may therefore be required to complete identity-verification procedures and securely connect an eligible business checking account through Plaid as part of the Link2Investors verification and profile-approval process.
Investors
For Investors, Link2Investors may use Plaid to:
- Verify the Investor’s identity.
Link2Investors does not require Investors to verify or connect a business checking account through Plaid as part of the Investor identity-verification process.
Service Professionals
Link2Investors does not currently use Plaid as the primary identity-verification service for Service Professionals.
Service Professional identity verification is primarily conducted through the escrow company utilized by Link2Investors in connection with the oversight and administration of Hired Service Professional Contracts.
Other verification procedures may also apply to Service Professionals as disclosed by Link2Investors or the applicable third-party service provider.
2. Plaid Products and Services Used by Link2Investors
Depending upon the user’s role and the verification being performed, Link2Investors may use the following Plaid products and services:
A. Plaid Auth
For Entrepreneurs, Link2Investors may use Plaid Auth in connection with an eligible business checking account that the Entrepreneur chooses to connect through Plaid.
Plaid Auth may provide account and routing information and related account information necessary to support the authorized account-verification process.
Link2Investors does not require Investors to connect a business checking account through Plaid Auth as part of Investor identity verification.
B. Plaid Identity / Identity Match
For Entrepreneurs, Link2Investors may use Plaid Identity and/or Identity Match in connection with a linked business checking account to assist in comparing identifying information associated with the financial account with identifying information provided during the Link2Investors verification process.
This process may assist Link2Investors in determining whether identifying information associated with the connected account corresponds with information supplied by the Entrepreneur.
C. Plaid Identity Verification
Link2Investors may use Plaid Identity Verification to verify the identity of:
- Entrepreneurs; and
- Investors.
Plaid Identity Verification may require users to provide identifying information and complete verification procedures through Plaid. The particular information requested and verification methods employed may vary depending upon Plaid’s services and the circumstances of the verification.
3. Information Processed Through Plaid
The information Plaid processes depends upon the Plaid products used, the user’s role on Link2Investors, the financial institution involved when applicable, and the permissions provided by the user.
Entrepreneurs
Plaid may process information necessary to:
- Verify the Entrepreneur’s identity;
- Facilitate the connection of an eligible business checking account;
- Obtain applicable account and routing information;
- Compare identifying information associated with the connected account with identifying information provided for verification; and
- Provide Link2Investors with applicable verification information or results.
Investors
Plaid may process information necessary to:
- Verify the Investor’s identity; and
- Provide applicable identity-verification information or results to Link2Investors.
Investors are not required by Link2Investors to connect or verify a business checking account through Plaid as part of this identity-verification process.
Financial Information Link2Investors Does Not Intend to Use
Link2Investors’ intended use of Plaid is not to obtain or analyze users’ transaction histories, spending activity, purchasing behavior, or account balances.
Link2Investors uses Plaid for the specific identity and business checking account verification purposes described in this Privacy Policy, subject to the particular Plaid products enabled for the Link2Investors platform.
If Link2Investors materially changes its use of Plaid or begins using additional financial information for another purpose, Link2Investors will update its disclosures and obtain any authorization or consent required by applicable law or contractual requirements.
4. User Authorization and Consent
Use of Plaid requires applicable user authorization and consent.
Entrepreneurs
By proceeding with Plaid verification, an Entrepreneur authorizes Plaid to process information necessary to perform the applicable identity-verification services.
When an Entrepreneur chooses to connect a business checking account, the Entrepreneur also authorizes Plaid to access and process applicable information from the selected financial institution and provide information or verification results to Link2Investors as necessary for the authorized account-verification process.
Entrepreneurs should only connect financial accounts that they are legally authorized to access and use.
Investors
By proceeding with Plaid identity verification, an Investor authorizes Plaid to process information necessary to perform the applicable identity-verification services and provide applicable verification information or results to Link2Investors.
Link2Investors does not require Investors to authorize Plaid to verify a business checking account as part of this identity-verification process.
5. Plaid’s Privacy Practices
Plaid’s collection, use, processing, storage, retention, and sharing of information are also subject to Plaid’s applicable privacy policies and terms.
Before completing verification, users should review the Plaid End User Privacy Policy:
https://plaid.com/legal/#end-user-privacy-policy
Plaid’s privacy practices are separate from Link2Investors’ privacy practices. Link2Investors does not control Plaid’s independent data-processing, storage, retention, or security practices.
6. Financial Institution Authentication and Credentials
When an Entrepreneur connects an eligible business checking account, authentication may occur through Plaid, the applicable financial institution, or an OAuth or similar authorization process.
For financial institutions utilizing OAuth or similar authentication technology, the Entrepreneur may be redirected to the financial institution to authenticate directly and authorize the requested connection.
Link2Investors does not intend to collect or store the username and password an Entrepreneur uses to log into the Entrepreneur’s financial institution through the Plaid account-connection process.
7. How Link2Investors Uses Plaid Verification Information
Information and verification results Link2Investors receives through Plaid may be used to:
- Verify the identity of Entrepreneurs;
- Verify the identity of Investors;
- Support verification of an Entrepreneur’s applicable business checking account;
- Complete or support Link2Investors’ user-verification and profile-approval processes;
- Maintain the integrity and security of the Link2Investors platform;
- Detect, investigate, or prevent suspected fraud, misrepresentation, identity misuse, or unauthorized activity;
- Protect Link2Investors users and the platform;
- Maintain appropriate records relating to user verification; and
- Comply with applicable legal, regulatory, contractual, security, or risk-management obligations.
Link2Investors does not use information obtained through Plaid for advertising or marketing purposes.
8. Sharing of Information
Link2Investors may share information associated with identity or business checking account verification with service providers or other parties when reasonably necessary to operate, secure, maintain, or provide the Link2Investors platform or when disclosure is required or permitted by applicable law.
Link2Investors does not sell financial account information received through Plaid for monetary consideration.
Plaid may independently process and share information in accordance with Plaid’s own privacy policy and applicable legal requirements.
9. Data Security
Link2Investors uses reasonable administrative, technical, and organizational safeguards designed to protect personal and financial information under its control from unauthorized access, use, disclosure, alteration, loss, or misuse.
No electronic transmission, information-storage system, or online service can be guaranteed to be completely secure.
Users are responsible for taking appropriate precautions to protect their Link2Investors account credentials, financial institution credentials, personal information, and other sensitive information.
10. Data Retention
Link2Investors may retain verification information received through Plaid for as long as reasonably necessary to fulfill the purposes described in this Privacy Policy, maintain appropriate verification records, protect the Link2Investors platform and its users, resolve disputes, enforce applicable agreements, and satisfy applicable legal, regulatory, contractual, or compliance requirements.
Plaid maintains its own data-retention practices, which are described in Plaid’s applicable privacy policies.
11. Managing or Disconnecting a Plaid Connection
Depending upon the Plaid product, financial institution, and services available to the user, users may have options to manage or disconnect financial account connections through their financial institution, Plaid, or applicable Link2Investors functionality.
Plaid also provides privacy controls that may allow eligible users to view and manage financial connections established through Plaid.
For additional information regarding Plaid’s privacy controls, data practices, and available privacy rights, please review the Plaid End User Privacy Policy:
https://plaid.com/legal/#end-user-privacy-policy
12. Service Professional Verification
Because Link2Investors does not currently use Plaid as the primary identity-verification provider for Service Professionals, Service Professionals may be subject to separate verification procedures.
Service Professional identity verification is primarily conducted through the escrow provider utilized in connection with Link2Investors’ Hired Service Professional Contracts.
The applicable escrow provider may maintain its own privacy policy, terms, identity-verification procedures, Know Your Customer (“KYC”) requirements, or other compliance requirements.
Information submitted directly to such a third-party provider may be subject to that provider’s independent privacy practices and terms.
13. Changes to Plaid Verification or This Policy
Link2Investors may modify its use of Plaid or update this section of its Privacy Policy from time to time to reflect changes to Plaid products or services, Link2Investors verification procedures, security measures, applicable law, regulatory requirements, or Link2Investors’ business operations.
When material changes are made, Link2Investors will update the effective date and provide any additional notice or obtain any additional consent required by applicable law.
14. Contact Link2Investors
Questions regarding Link2Investors’ use of Plaid, identity verification, business checking account verification, or Link2Investors’ handling of information received through Plaid may be submitted through the contact information provided on:
www.Link2Investors.com
Questions regarding Plaid’s independent collection, processing, storage, retention, or use of information should be directed to Plaid using the contact information contained in the Plaid End User Privacy Policy.