Collaboration between Imprint and Nova Credit to enhance prompt credit availability
In a groundbreaking move, Imprint, a leading financial technology company, has partnered with Nova Credit to revolutionise the underwriting process and expand credit access for Americans with thin credit files or those recovering from financial setbacks.
The collaboration, centred around Nova Credit's cash flow analytics, will integrate directly into Imprint's decisioning workflows, allowing the company to move beyond traditional credit scoring methods. This innovative approach will provide a more comprehensive and timely understanding of a consumer's financial behaviour and ability to repay.
The partnership is set to deliver several key benefits. By incorporating Nova Credit’s cash flow analytics, Imprint can better evaluate individuals who may have limited or “thin” credit histories, or who have experienced financial setbacks, enabling these consumers to access credit opportunities that might otherwise be unavailable.
This real-time credit access will boost Imprint’s credit decisioning processes, speeding up and improving the accuracy of credit approvals without sacrificing speed. The partnership particularly helps people who struggle to build credit through traditional means, such as recent immigrants, young adults, or those recovering from financial hardships, by considering broader financial data points beyond conventional credit reports.
The integration will be powered by Alloy, a leading identity and fraud prevention platform. The partnership could help Imprint make more informed lending decisions based on pre-built integrations through Alloy, further strengthening the underwriting process.
Misha Esipov, co-founder and CEO of Nova Credit, stated that the partnership with Imprint strengthens underwriting without compromising speed, leading to better-informed credit decisions. The partnership between Imprint and Nova Credit continues to aim at providing more holistic insights for better lending decisions.
Imprint's goal is to deliver the best results for its partner brands and their customers. With this partnership, the company is taking a significant step towards creating more inclusive lending practices, broadening credit availability, and ultimately, helping more Americans gain access to the financial products they deserve.
- Imprint's decisioning workflows will now incorporate Nova Credit's cash flow analytics, allowing a more comprehensive and timely understanding of a consumer's financial behavior and ability to repay.
- This partnership could help Imprint make more informed lending decisions based on pre-built integrations through Alloy, further strengthening the underwriting process.
- The collaboration particularly helps people who struggle to build credit through traditional means, such as recent immigrants, young adults, or those recovering from financial hardships, by considering broader financial data points beyond conventional credit reports.
- The partnership between Imprint and Nova Credit continues to aim at providing more holistic insights for better lending decisions, contributing to a more inclusive approach in the finance business.
