MKTplace-data type: Affordability

Valid-Systems

Written by Allison Karavos on November 4, 2024. Posted in Partners, Uncategorized. No Comments on Valid-Systems

Partner

VALID Systems

VALID Systems is an AI-powered account risk and transaction decisioning company

Key Benefits

Robust data consortium with over $6T check transacation activity and 450M account all while recency is maintained at 60%. Risk analytics play a crucial role in enhancing risk management within banks by leveraging advanced data analytics techniques. Banks utilize these analytics to assess various types of risks, including credit, market, and operational risks.
Advanced fraud detection and mitigation solutions safeguard businesses against financial crimes, ensuring secure transactions and protecting customer trust. Behavioral analytics and anomaly detection play a crucial role in enhancing cybersecurity for banks. By continuously monitoring user behavior and identifying deviations from established patterns, banks can proactively address potential security threats.

“VALID Systems has been an outstanding partner. From inception stage to post-production, the team has been incredibly attentive, accommodating, and dependable. The passion for their solutions shines through, making it a pleasure to work with them. With VALID’s help we have been able to expand our services, delivering improved experiences to our clients.”

MEGAN DUNN – PRODUCT MANAGER, KEYBANK

Best-in-class fraud detection and loss reduction

Valid has 7 of the top 25 FIs using its best-in-class fraud detection and loss reduction tools. Valid can partner with you in every step of the way to transform risk into better customer experience.

VALID Systems is an AI powered account risk and transaction decisioning company. We remove the friction caused by fraud to deliver liquidity solutions for the largest FI’s in the nation.

From check risk and deposit acceleration, to increasing loan funding rates and small dollar lending, we are your risk partner for enabling customer liquidity needs.

Resources

About VALID Systems

Services

Use cases:

Fraud Monitoring & Detection

Fraud monitoring and detection in banks are essential to mitigate fraud risk. By employing continuous monitoring systems, banks can analyze transactions and user behaviors in real-time, identifying anomalies that signal potential fraud.

Behavioral Analytics / Anomaly Detection

Behavioral analytics and anomaly detection play a crucial role in enhancing cybersecurity for banks. By continuously monitoring user behavior and identifying deviations from established patterns, banks can proactively address potential security threats.

Risk Analytics

Risk analytics plays a crucial role in enhancing risk management within banks by leveraging advanced data analytics techniques. Banks utilize these analytics to assess various types of risks, including credit, market, and operational risks.

Loan Decisioning

Advanced analytics and decision-making algorithms for loan approvals. This improves risk-based pricing accuracy, reduces the likelihood of approving high-risk loans, and enhances overall portfolio quality.
Regions Supported

North America

Infact

Written by Allison Karavos on June 12, 2024. Posted in Partners. No Comments on Infact

Partners

Infact

Smarter affordability assessments, better outcomes

Key Benefits

Increase lending and application conversion. Increase automated decisions and acceptances with coverage of 100% of the UK’s adult population and sub-second performance.
Move towards assessing suitability. Improve expenditure assessments and go beyond RAG status and ONS by considering a consumer’s application and credit information to create an assessment that correlates with income.

“Infact’s Affordability Engine has improved our expenditure assessments delivering a 10% increase in acceptances and 20% increase in automated decisioning, while keeping application friction low.”

JAMES WILKINSON, HEAD OF LENDING, FAIR FOR ALL

Building a fair and inclusive credit information market

Infact is building a single API for modern lenders offering a cloud-based platform that facilitates more timely sharing of consumer credit information. The team is working collaboratively with UK lenders to build the next generation of affordability, credit risk and fraud products, while overcoming challenges with traditional bureau products such as poor matching, outdated reporting formats and stale data. Affordability Engine is our first product that offers a frictionless, responsive, and transparent suite of metrics lenders can use to triage customers through an application decision flow and more accurately assess if an applicant can afford the product they are currently applying for.

Learn more at www.infactsystems.com.

Resources

About Infact Services

We offer free retros to assess the value of our Affordability Engine in the following use cases:

New Lending
- Comparison quotation stage
- Embedded finance checkout optimisation
- Expenditure to complement your income verification
- Triage or applicant pre-filtering and funnel optimisation
- CONC aligned full application expenditure estimation
Customer Management
- Portfolio monitoring
- Portfolio reporting
- Portfolio risk modelling
- Consumer Duty aligned sufficiency assessment
Regions Supported
- United Kingdom

AccountScore

Written by Cassidy Bellville on May 26, 2024. Posted in Partners. No Comments on AccountScore

PARTNER

AccountScore
an Equifax Company

Delivering the market-leading Open Banking solution

Key Benefits

Automate onboarding journey. Our solution enables clients to automate and speed up customer onboarding, especially if traditionally your process has required manual assessment of applications or the need to review bank statements.
Increase acceptance rates. Rich and granular Open Banking insights provide a comprehensive view of an individual’s circumstances allowing you to accept applicants that may have previously been declined using traditional data.

“AccountScore has enabled us to verify our customers with confidence whilst still being a simple user experience.”

GURINDER BAINES, TECHNICAL LEAD, LEAP LENDING

Reliable, Accurate and Comprehensive Bank Transaction Data Analytics

AccountScore’s market leading analytical solution utilizes more than 22 million keywords to categorize transactions and identify insights, patterns and behavior. AccountScore enables lenders to lend more profitably whilst cutting loan processing times, completely replacing the need to collect bank statements and pay slips by substituting these with online, real-time, reliable and fully categorized transaction datasets.

Lenders can reduce bad debt and screen out any fraudulent applications whilst exceeding internal targets for processing loan applications. This ensures that relevant consumers and SMEs get the capital they need whilst ensuring clients lend with greater precision.

AccountScore’s solution enables clients across a broad range of industries to benefit from tools such as instant income verification, digital identity, credit risk indexes, affordability calculators, actionable insights, and events.

Resources

About AccountScore Services

AccountScore Products

Income Verification: Instantly verify income, including salary, employer and benefits

Affordability Assessment: Breakdown of essential and non-essential expenditure; with a configurable disposable income calculator

Vulnerability Alerts: Key risk indicators including loss / reduction of income, high gambling, and returned direct debits

IDV & Fraud Prevention: Mixing traditional bureau data and bank-level secure customer authentication and biometrics

Commercial Risk: Verify business bank accounts to assess cashflow, liability, balance and overdraft indicators and high-risk alerts
Countries Supported
- United Kingdom
- Spain
- Ireland

AperiData

Written by Cassidy Bellville on December 14, 2023. Posted in Partners. No Comments on AperiData

Partners

AperiData

Harnessing Open Banking to Revolutionize Credit Decisioning

Key Benefits

Better decisions across the lifecycle. Our data insights improve decision consistency, speed and accuracy from customer onboarding to account management. We harness the power of Open Banking to transform credit and lending processes that power instant, responsible, and ethical decisions.
Quick and easy to integrate. Use our developer-friendly APIs to integrate directly with your own platforms and customer journeys, unlocking all the efficiencies of data consistency and automation. Also available as a stand-alone product for your users.

“For marginal cases, traditional credit bureau data doesn’t provide sufficient information to make decisions. Using AperiData, around 90% are now approved because of the accuracy of their data.”

MATTHEW STEVENS, CEO, HEY CREDIT UNION

The Real Time Credit Reference Agency

AperiData is an FCA authorized Credit Reference Agency and Open Banking provider that uses banking data to provide real time risk insights.

We see a world where businesses can access comprehensive financial insights at their fingertips, where consumers have control over their financial data, and where data-driven decisions lead to better financial outcomes for everyone.

Our founding team bring over 100 years of combined experience gained in senior roles at organizations across financial services, software, and data service providers. This experience is embedded not only in our technology solutions but also in our proprietary delivery methodology, which enables us to efficiently implement the right solution for every client.

Resources

AmeriData Company and Product Overview

About AperiData

Services

Transaction Categorization: Our machine learning models help you better understand your customer’s income and spending patterns by accurately classifying incoming and outgoing transactions into specific categories. Use this data to make more informed risk decisions and help your customers understand where they’re spending to stay on top of their finances.

Affordability: A complete, accurate snapshot of your customer’s financial position in real time. Our affordability engine uses income and expenditure categorization to accurately calculate customer affordability. Harness rich insights and trends across income, expenditure, assets and liabilities. Understand your customer’s true disposable income and affordability, including detailed breakdown of any benefits received.

Credit Console®: The Credit Console® provides you with a high-impact, high-resolution view of our rich data insights, allowing users to quickly assess your customer’s financial profile. Available as an integrated or standalone solution to be deployed for your business quickly and easily.

Credit Scoring and Risk Indicators: Access our suite of risk flags and identifiers that highlight potential high-risk activities, or areas requiring further investigation.

Identity: Improve KYC and verify customer identity with each linked bank.
Regions Supported

United Kingdom

Equifax

Written by Cassidy Bellville on December 13, 2023. Posted in Partners. No Comments on Equifax

Partners

Equifax

Enabling Better Customer Experiences and Driving Smarter Revenue

Key Benefits

Credit Risk. Make more confident lending decisions and expand access to credit with alternative data and robust analytics only Equifax can deliver.
Identity, Fraud, and Compliance. Equifax Digital Solutions can help protect your business, your bottom line, and your customers at every stage of the lending journey.

Equifax – Powering the World with Knowledge™

At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by more than 14,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com.

Resources

About Equifax

Services
- Credit Risk Solutions
- Verifications
- Identity, Fraud, and Compliance
- Data-Driven Marketing Solutions
- Alternative Data Solutions
- Portfolio Management Solutions
Regions Supported
- LATAM
- EMEA
- North America
- Australia & New Zealand

AdviceRobo

Written by Cassidy Bellville on October 27, 2023. Posted in Partners. No Comments on AdviceRobo

Partners

AdviceRobo

Dynamic Personality Data for BNPL and SME Credit Decisioning

Key Benefits

Increase your acceptance rate up to 40%. Incorporating personality data will enhance your scorecards with insights on customer segments like next-gen consumers, newcomers to the country, and small businesses, enabling more accurate predictions and access to previously untapped customer segments.
Seamless customer journey, low-tech integration, real-time insights. Our JavaScript plugin, integrated into your customer onboarding process, gathers data from various touchpoints and provides information, profiles, and decisions. A 24/7 dashboard offers real-time insights into the funnel, comprehensive customer data, alerts, and model performance.

“AdviceRobo is an innovative partner supporting us with their psychometric credit scoring. Our cooperation really adds value to our business. They are a great bunch of people. We are happy to team up with them and benefit from their knowledge.”

SME PLATFORM LENDER IN EUROPE

AI-Driven Solutions to Improve Your Underwriting

AdviceRobo mission is to responsibly promote financial inclusion for the next generation, globally. Younger generations possess unique attributes such as digital fluency, strong entrepreneurial spirit, and a commitment to sustainability, often overlooked by traditional financial methods. To bridge this gap, we’ve crafted an advanced data collection tool tailored for next-gen traits and behaviors.

This tool serves as the foundation for our sophisticated analytical solutions, integrating cutting-edge AI, all while upholding ethical standards and respecting privacy within the regulatory framework. Our solutions empower you to exercise greater control with automated customer data enrichment and seamless data automation through our automatic data pipelines. We also offer innovative modeling and scorecards, in addition to assisting your team in developing customized scorecards. By embracing these solutions, you can embrace the future of financial inclusion and cater to the unique needs of the next generation.

Resources

Use Case: Increase Acceptance

About AdviceRobo Services

Proprietary Personality Data

Psychometric data

Digital footprint data

Biometric data

Demographic data
Profiles and Scores

Life-centric profile

Financial health profile

Life-centric credit score

Other risk scores
Custom Solutions

Score card development

Model development

Design AI strategies and roadmaps for and with boards and management

Education and training on AI for co-workers
Regions Supported

Global

WISE AI

Written by Cassidy Bellville on February 21, 2023. Posted in Partners. No Comments on WISE AI

Partners

WISE AI

WISE EKYC – an AI-Powered Identity Verification Solution

Key Benefits

Instant identify verification and authentication in under three minutes. Transform identity verification with WISE EKYC, an AI-powered technology that delivers a fast and seamless customer experience. Say goodbye to time-consuming and manual onboarding. Experience effortless identity verification in under three minutes.
Lower cost with enhanced security. With WISE EKYC, companies can achieve lower costs and enhanced security in their onboarding processes by eliminating human verification costs, while AI can provide a more secure solution. Say goodbye to expensive manual processes – choose eKYC for a cost-effective and secure solution.

“We have no doubts about WISE AI, and we encourage industry players to explore what WISE AI can offer to their ecosystem.”

RICHARD KER, HEAD OF INNOVATION & INDUSTRY DEVELOPMENT AT CYBERVIEW SDN BHD

Empowered Organizations with AI-Powered Identity Service

Expertise with proven business use cases in Financial Institutions, Fintech, Government Services, Education, Certificate Authority and many more
Technology house with the ability to localize the technology and the processes to meet the regulations and policy needs
Technology is verified and tested by NIST from US, National Institute of Standards and Technology
The solutions comply with the regulations and policies under the central bank of Indonesia and Malaysia
Covering over 190 countries, national IDs and Passport

Resources

About WISE AI

Services
- WISE EKYC
- WISE ID Document OCR
- WISE Liveness
- WISE ID Fraud
- WISE Face Compare
Regions Supported
- APAC
- Malaysia
- Indonesia

Nova Credit

Written by Cassidy Bellville on January 27, 2023. Posted in Partners. No Comments on Nova Credit

Partners

Nova Credit

Expand Your Credit-Eligible Universe

Key Benefits

Unlock new markets and optimize funnel conversion. Access trusted financial data to open new consumer segments, offer new products, and create loyal customers for life — all while maintaining your risk profile. Minimize your acquisition costs by optimizing your funnel conversion rate. Consumer-permissioned data gives you the confidence to approve more of the people that you’ve already attracted to your product offering.
Reduce portfolio risk and automate income verification. Respond to uncertain economic conditions and develop loss avoidance strategies by improving your risk assessment with up-to-date credit risk information. Automate your income verification processes with Cash Atlas™ and reduce time to fund. This solution helps increase applicant conversion rates, reduce manual intervention to review document uploads, and improve visibility into debt-to-income ratio and true income.

“We’re removing a barrier for millions of newcomers to the U.S. who arrive and instantly lose access to the credit history they built elsewhere.”

ATUL RANJAN, VICE PRESIDENT OF NEW ACCOUNT UNDERWRITING AT AMERICAN EXPRESS

Building a Fair and Inclusive Financial System for the World

Nova Credit is a consumer-permissioned credit bureau that helps businesses make more fair and informed decisions on millions of ‘thin file’, no credit history, or new-to-country applicants. The Credit Passport® unlocks cross-border credit bureau data to help businesses underwrite new-to-country newcomer populations. The Cash Atlas™ provides greater insight into the cash flows of any applicant, including verifying their income with greater precision than alternatives. Businesses use these products to approve more applicants without taking on more risk, and consumers are empowered to put their best foot forward in their applications.

Resources

About Nova Credit Services

About Nova Credit

Services

Credit Passport®: The only way to help approve qualified immigrants for mainstream credit. Credit Passport® gives businesses the ability to assess the creditworthiness of U.S. newcomers to issue financial products like credit cards, loans, phone plans, and more. Our solution provides access to international credit data that’s translated in real time to a standardized credit report.

Cash Atlas™: Improve credit risk assessment using bank transaction data. Cash Atlas™ helps businesses improve risk prediction for thick-file consumers and expand credit access to thin-file and no-file consumers. Leverage consumer-permissioned bank transaction data to layer affordability on top of existing underwriting models.
Regions Supported

Global

Basiq

Written by Cassidy Bellville on January 26, 2023. Posted in Partners. No Comments on Basiq

Partners

Basiq

Unlock the Future of Open Finance

Key Benefits

Accelerate access to Open Banking. Basiq has been helping organizations access and use financial data since 2017. Basiq helps organizations determine a suitable CDR access model and provides a platform with all of the tools to consume Open Banking data in a CDR compliant way.
Data and payments in a single platform. Securely access powerful data insights and execute payments via a single platform. The addition of financial data to payments provides essential information about a consumer’s financial situation, opening doors to a whole new world of solutions to make finance easier.

“Open Banking helps us to harness an even better customer experience and great data insights for
smarter and more responsible lending. With scraping inconsistencies, our focus is on future proofing our business to ensure we can always service our customers in a reliable and secure way.”

BISHARA HATOUM, FOUNDER & CEO AT FUNDO

Basiq, the Leading Open Finance API Platform

At Basiq, our vision is Making Finance Easy. Finance is complex and it can be hard for consumers to make informed financial decisions. We see a world where consumers are empowered to make smarter financial decisions and to engage with their finances in new and unique ways.

Basiq enables this by providing an Open Finance API platform for businesses to build innovative financial solutions. Our partners include some of the fastest-growing fintechs and banks in the region. As the building blocks of financial services, the platform facilitates the relationship between fintechs and consumers by enabling access to consented financial data from 130+ financial institutions and executing payments.

Backed by Reinventure, NAB Ventures, Plaid, Touch Ventures, Salesforce Ventures, and Visa, over 200 fintechs rely on the Basiq platform to deliver solutions to market.

Resources

About Basiq

Services

Connect – Access account and transaction data in real-time

Enrich – Enhance transactions with merchant data

Affordability – Gain deep insight of your customer’s finances

Payments – Execute payments through the Basiq platform

CDR Open Banking – Acquire and use Open Banking data in a CDR compliant way
Countries Supported

Australia

New Zealand

Think360.ai

Written by Cassidy Bellville on December 6, 2022. Posted in Partners. No Comments on Think360.ai

Partners

Think360.ai

Think360.ai – Accelerating Intelligent Transformation

Key Benefits

Algo360: Alternate Data and AI-Powered Credit Scores. Algo360 is India’s largest AI-driven alternate credit score solution that provides lenders with 1000+ alternate data points to gauge the creditworthiness of individuals. Algo360 enables financial institutions to extend credit offerings to the underserved population.
Kwik.ID: Digitally Onboard Your Customers, Kwikly. Kwik.ID is an AI-backed customer onboarding and video KYC solution. It provides secure, compliant, and customizable digital onboarding. Kwik.ID has onboarded over 300,000+ remote customers with an NPS of 95+.
AAmaze: Enabling the Account Aggregator Ecosystem. AAmaze is a TSP licensee enabling the AA ecosystem, with a bank statement analyzer and personal finance solution. AAmaze’s AI-powered platform deep-dives into the rich open data framework, to support cash flow-based lending, custom savings, and money management solutions for customers (even those with no prior credit history), including both MSMEs and individuals.

“Think360.ai has helped us unlock the power of alternate data and design a seamless customer journey. We’re able to underwrite a lot better now compared to using only traditional forms of data like bureau reports. As a result, we have been able to expand our customer base and lend to new to credit borrowers with confidence.”

ABHISHEK UPADHYAY, NAVI

Think360.ai – Full-Stack Data Science and AI Firm

Think360.ai is a full-stack data science and AI firm with market-leading products, solutions and advisory services, founded in 2014.

Their offerings include Algo360 (India’s largest alternate credit score), Kwik.ID (best-in-class video KYC and customer onboarding solution), FlowXpert (low-code partner management and API management solution), and a modular modern underwriting stack (with advanced AI/ML risk modeling, multi-data parser, credit policy design, Business Rule Management System, and Risk-based pricing solutions). Think360 has been a bootstrapped, profitable, and high CAGR organization since its inception, and has worked with industry giants like Bank of Baroda, Bajaj Finance, Aditya Birla Finance, IDFC First Bank, Navi Technologies, BharatPe, RBLamong others.

Think360 is on a mission to “Accelerate Intelligent Transformation” through “Ideas powered by data.”

Resources

About Think360.ai

Services
- Algo360
- Kwik.ID
- AAmaze
Countries Supported
- India

MKTplace-data type: Affordability

Partner

VALID Systems

VALID Systems is an AI-powered account risk and transaction decisioning company

Key Benefits

Best-in-class fraud detection and loss reduction

Resources

About VALID Systems

Services

Regions Supported

Infact

Smarter affordability assessments, better outcomes

Key Benefits

Building a fair and inclusive credit information market

Resources

About Infact Services

Regions Supported

PARTNER

AccountScorean Equifax Company

Delivering the market-leading Open Banking solution

Key Benefits

Reliable, Accurate and Comprehensive Bank Transaction Data Analytics

Resources

About AccountScore Services

AccountScore Products

Countries Supported

AperiData

Harnessing Open Banking to Revolutionize Credit Decisioning

Key Benefits

The Real Time Credit Reference Agency

Resources

About AperiData

Services

Regions Supported

Equifax

Enabling Better Customer Experiences and Driving Smarter Revenue

Key Benefits

Equifax – Powering the World with Knowledge™

Resources

About Equifax

Services

Regions Supported

AdviceRobo

Dynamic Personality Data for BNPL and SME Credit Decisioning

Key Benefits

AI-Driven Solutions to Improve Your Underwriting

Resources

About AdviceRobo Services

Proprietary Personality Data

Profiles and Scores

Custom Solutions

Regions Supported

WISE AI

WISE EKYC – an AI-Powered Identity Verification Solution

Key Benefits

Empowered Organizations with AI-Powered Identity Service

Resources

About WISE AI

Services

Regions Supported

Nova Credit

Expand Your Credit-Eligible Universe

Key Benefits

Building a Fair and Inclusive Financial System for the World

Resources

About Nova Credit

Services

Regions Supported

Basiq

Unlock the Future of Open Finance

Key Benefits

Basiq, the Leading Open Finance API Platform

Resources

About Basiq

Services

Countries Supported

Think360.ai

Think360.ai – Accelerating Intelligent Transformation

Key Benefits

Think360.ai – Full-Stack Data Science and AI Firm

AccountScore
an Equifax Company