Prism Data, a top cash flow underwriting and data analytics platform, and Stratyfy, a women-led fintech company that challenges bias in AI and optimises credit risk decisions with transparent machine learning solutions, announced their strategic relationship.
Modern cash flow underwriting, which Prism Data invented, makes use of digital deposit account data to increase credit availability for millions of customers for whom traditional credit history is either nonexistent or incomplete. In the event that traditional credit data is insufficient, Stratyfy will use Prism Data’s cash flow data and scores as part of this strategic relationship to assist lenders in making better decisions.
Prism’s Insights product provides thousands of predictive attributes, enabling lenders to create custom models, devise advanced credit strategies, and segment users with great precision
“At Stratyfy, we are dedicated to building a more inclusive financial system that is also sustainable. That is only possible with smarter credit decisioning, and our partnership with Prism Data is a testament to this mission,” said Laura Kornhauser, CEO and co-founder at Stratyfy. “Solely depending on traditional credit data can paint an incomplete financial picture of loan applicants, which results in lenders missing out on good, profitable customers. By combining our proprietary AI/ML technology with Prism Data’s CashScore®, we can harness cash flow data to help lenders accurately and transparently identify credit-worthy customers who may have been overlooked otherwise.”
“We’re thrilled to partner with Stratyfy to offer customers breakthrough cash flow underwriting solutions,” said Prism Data President, Erin Allard. “Prism’s CashScore® enables credit decisions that are more accurate and more inclusive — allowing lenders to say ‘yes’ to up to 30 percent more customers without taking on additional risk. Paired with Stratyfy’s cutting-edge decisioning technology, we’re confident lenders will be better positioned to advance financial inclusion and boost profits at the same time.”