The “Small-Dollar Lending Rule” is going to hurt: our preliminary analysis of EDGE client data suggests there could be as much as 14% losses for lenders’ portfolios, depending on the product. Additionally, our research shows that lenders can reduce those losses to 5-10% by leveraging bank data analytics (more below).
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CUSO partners to provide cashflow underwriting technology to credit union community
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EDGE, the leading cashflow consumer reporting agency (CRA), released a new customer acquisition solution that enables lenders to screen leads using rich bank transaction data, prior to purchase.
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Read this white paper from EDGE to learn about how regulatory differences affect lending and borrowing patterns.
How Open Banking and Cashflow Analytics Can Eliminate the Stipulation Process for Credit Unions
Once the cornerstone of all lending decisions until the mid-eighties, cash flow underwriting is at a new tipping point thanks to machine learning and data analytics.
Next-gen loan origination platform to offer end-to-end open banking underwriting insights as part of its highly-customizable system.
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The partnership will enable credit unions using Sync1's cloud-based loan origination platform to look beyond traditional credit scores and have access to attributes based on real-time financial insights from members' share draft accounts as well as external accounts.
If you’re like most people, you answered the NCAA Championships. That’s not a slight against others like the National Invitational Tournament, College Basketball Invitational, and CollegeBasketball Crown. But when it comes to college basketball and March sports in general, there’s the Big Dance and then there’s everyone else.
HES is thrilled to announce our strategic partnership with EDGE, a trailblazer in open banking data and analytics that provides lenders with comprehensive insights into consumer creditworthiness and fraud risk based on an extensive repository of bank data.
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Industry-first open banking platform will deliver access to external accounts alongside direct connectivity to credit unions' core systems for complete financial picture of members and indirect applicants.
Leading fintech loan management platform adds real-time cashflow underwriting analytics to enhance customers' underwriting and credit risk decisions
Nearly every checking and savings account in the U.S. can be accessed through a bank data aggregator. An entire ecosystem of open banking fintech has emerged around this data – from financial health dashboards to payments authentication to credit risk assessment.
Today, we're diving into the world of storefront lending and how automation is transforming the game. We'll explore the incredible advantages of automation and how it's paving the way for more efficient, customer-friendly, and data-driven lending processes.
In the world of lending, making sound decisions is paramount. A borrower's income is a critical factor in assessing their creditworthiness and ability to repay a loan. Lenders require effective tools to evaluate this key aspect of every loan application. Enter EdgeIncome, a solution that empowers lenders to make informed decisions while streamlining their operations.
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EDGE is thrilled to announce the release of our new product, EdgeRefine, a cutting-edge technology product designed to revolutionize the way you analyze bank data and streamline consumer credit decisions.
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Mark Friedgan, CEO of the parent company of NinjaEdge, spoke on incubating the cashflow underwriting IP that would eventually become the NinjaEdge B2B analytics offering.
Verification of income has traditionally been one of the most expensive and time-consuming steps in a loan application. With the innovation of instant bank verification (IBV), proof of income can be achieved in near real-time along with a host of risk insights relevant for credit decisions.
NinjaEdge, the innovator in alternative data analytics for consumer risk assessment, announced today a strategic partnership with leading consumer lending decisioning software provider Tekambi. NinjaEdge is integrating its proprietary bank transaction analytics software-as-a-service with Tekambi’s platform which optimizes lead purchasing, underwriting, and buying for lenders.
Alternative data and risk assessment platform NinjaEdge announced today a new partnership with Infinity Software, the leading loan management software provider for alternative credit lenders in North America. The partnership will seamlessly integrate NinjaEdge’s proprietary bank data analytics service into Infinity’s ecosystem of traditional and alternative credit risk signals, decision engines, and verification providers.
Today, we're diving into the world of storefront lending and how automation is transforming the game. We'll explore the incredible advantages of automation and how it's paving the way for more efficient, customer-friendly, and data-driven lending processes.
In the world of lending, making sound decisions is paramount. A borrower's income is a critical factor in assessing their creditworthiness and ability to repay a loan. Lenders require effective tools to evaluate this key aspect of every loan application. Enter EdgeIncome, a solution that empowers lenders to make informed decisions while streamlining their operations.
Bank transaction-based credit risk underwriting revolutionizes lending by providing valuable insights into borrowers' repayment abilities, and EdgeScore excels as a leading predictive risk score in accurately assessing risk across the credit spectrum.
Verification of income has traditionally been one of the most expensive and time-consuming steps in a loan application. With the innovation of instant bank verification (IBV), proof of income can be achieved in near real-time along with a host of risk insights relevant for credit decisions.
Edge, using its industry-leading data lake, has gained valuable insights into the influence of Buy Now Pay Later (BNPL) on various credit types. Proprietary research reveals that borrowers engage in familiar patterns such as loan stacking, increased borrowing during financial stress, and heightened default risk due to additional obligations.
Buy Now, Pay Later plans are frequently in the headlines for opportunities and risks alike. BNPL obligations pose a challenge for other lenders because they are largely unreported to credit bureaus. However, these liabilities can be reliably found in bank transaction data – an essential step in decisioning on a complete picture of consumer risk.
Traditional credit scores are inadequate for assessing risk in nearly half of the U.S., while analyzing cash flow behaviors in checking and savings accounts provides a more comprehensive financial picture, leading to actionable insights that enhance underwriting decisions.