Why has the average time to complete Identity verification on Plaid increased by 30 seconds over the past week?

Introduction

The recent 30-second increase in average Identity verification time on Plaid is a critical issue that demands immediate attention. This analysis will systematically investigate potential root causes, generate data-driven hypotheses, and propose targeted solutions to address this performance degradation.

Step 1

Clarifying Questions (3 minute)

• Looking at the timing, I'm thinking this could be a recent change. Has there been any significant update to the Identity verification process in the past week?

Why it matters: Recent changes often correlate with performance shifts. Expected answer: Yes, a new security feature was added. Impact on approach: If confirmed, we'd focus on the new feature's implementation.

• Considering user segments, I'm wondering if this affects all users equally. Are we seeing this increase across all user demographics or specific groups?

Why it matters: Helps isolate whether it's a universal or targeted issue. Expected answer: The increase is more pronounced in users over 50. Impact on approach: We'd investigate age-specific factors in the verification process.

• Given the specificity of the 30-second increase, I'm curious about our measurement precision. Has there been any change in how we measure or define "completion time" for Identity verification?

Why it matters: Ensures we're comparing apples to apples in our metrics. Expected answer: No changes in measurement methodology. Impact on approach: Confirms the issue is with the process, not the measurement.

• Thinking about external factors, have there been any notable changes in regulatory requirements or industry standards for Identity verification in the past week?

Why it matters: External mandates can significantly impact verification processes. Expected answer: No recent regulatory changes. Impact on approach: Shifts focus to internal factors if external influences are ruled out.