AUSTIN, TX—March 3, 2026 — Boom announced an expanded partnership with Plaid, a data network powering the digital financial ecosystem, to enable secure bank connectivity in Income Verification 2.0, Boom’s new underwriting framework built for the realities of how renters earn income today.
The new integration with Plaid addresses a growing disconnect in rental housing: traditional income verification relies on paystubs and employment letters, but today's renters increasingly earn income through multiple sources—including gig work, freelance contracts, and self-employment. Existing bank-connected verification tools can surface transaction data, but lack the rental-specific logic to make sense of it.
"Property managers are stuck choosing between outdated verification methods that miss qualified applicants, or generic bank data tools that weren't designed for underwriting decisions," said Rob Whiting, CEO of Boom. "Income verification in rentals isn't a generic financial use case—it's an underwriting problem that requires context, judgment, and configurability. Integrating with Plaid lets us combine trusted bank connectivity with the rental-specific logic property managers actually need."
Income Verification 2.0 uses Plaid's bank connectivity, which is trusted by more than half of Americans with a bank account. Through the new integration, Boom can access Plaid-powered Income Insights to reduce applicant friction and provide property managers with transaction-level visibility into income streams. Boom then applies rental-specific underwriting rules on top of that data, allowing distinct income sources to be evaluated based on frequency, consistency, and source type.
Income Verification 2.0 enables property managers to apply underwriting criteria tailored to their asset class and risk profile. Conventional multifamily operators can evaluate applicants using gross income-to-rent ratios, while manufactured housing communities can incorporate debt-to-income analysis to account for lot rent alongside homeownership costs.
The integration also transforms the applicant experience. Rather than manually uploading multiple documents or reconnecting their bank account for each income source, applicants link their bank once through Plaid, then select which transactions correspond to different income streams. This creates a clearer income picture while eliminating repetitive verification steps.
"Income verification is a highly time-intensive step within the rental application process,” said Adam Yoxtheimer, Head of Partnerships at Plaid. “By combining Plaid’s real-time connectivity and intelligence with Boom’s latest verification solution, we’re enabling property managers to understand multiple income streams, manage risk, and improve conversion so they can make faster, more informed decisions.”
Boom's Income Verification 2.0 is available now to property management companies using BoomScreen.
About Boom
Boom is the financial services infrastructure powering modern rental operations. Boom provides property managers across multifamily, single-family, and manufactured housing with BoomScreen (configurable tenant screening and underwriting with fraud detection and income verification) and BoomReport (automated rent reporting to all three credit bureaus). The Boom Platform integrates with major property management systems to help reduce fraud, increase leasing velocity, drive on-time payments, and grow revenue, while serving renters through the Boom App to build credit and improve financial health.
About Plaid
Plaid powers the tools millions of people use to lead healthier financial lives. Our mission is to build a more inclusive, competitive, and resilient financial system by simplifying payments, transforming lending, and advancing the fight against fraud. More than 7,000 companies, including leading fintechs, crypto firms, Fortune 500 enterprises, and many of the largest banks, rely on Plaid to give people greater choice and control over their money. Headquartered in San Francisco, Plaid connects to over 12,000 financial institutions across the US, Canada, the UK and Europe.
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