Timothy Li, CEO at Alchemy and Lecturer at USC, notes that his firm is pleased and “fortunate” to extend their Fintech capabilities across the globe.
Timothy Li, who’s also a Senior Contributor at Crowdfund Insider, points out that during the past year, Alchemy has doubled their customer base as they continued to enter new markets. They are proud to offer their clients with an “extraordinary” lending platform “in a variety of verticals such as legal financing, automotive, solar, healthcare, and education.”
Alchemy now has clients in Canada, the US, Mexico, Puerto Rico, the United Arab Emirates (UAE), and Australia.
As explained by the company, their Alchemy Pay system offers software to “automatically send files to banks or payment processors and process return files automatically as well.” Alchemy Pay focuses “primarily on two processes, automation and monitoring.”
Notably, Alchemy is working with various solar energy financing firms across North America to bring energy financing to “millions” of Americans.
While sharing other updates, the company noted that Alchemy’s Brick and Mortar Retail Solution has been in the market since 2019. For additional information about their Brick and Mortar Retail Solution, you may check out their official website.
As covered, Alchemy lending core software powers Banks, Fintech and Merchants “with an end-to-end Cloud based SaaS solution.” Their embedded financing platform is “completely white labeled and customizable, serving customers world wide.”
Crafted by software engineers with banking and Fintech background, their award-winning lending software provides “a full package of powerful loan modules, including for digital onboarding, decision engine and loan management software.”
Their software enables businesses to “collect rich data about their customers and put it to work through powerful custom analytics and credit risk modeling.” Each business gets real-time access to data “via its own individual, private cloud installation.”
Alchemy Technologies, an established Fintech infrastructure development firm headquartered in Utah, teamed up with financial technology firm Plaid (last year), which provides a data network that powers the software tools that millions of consumers are using to “improve their financial lives.”
Through its partnership with Plaid, both companies plan to assist businesses with their account and asset verification so that they can enhance their lending decision-making processes.
According to a release, Alchemy implemented various algorithms and detection tools to assist its customers with examining each applicant’s financial situation or status.
These algorithms also aim to ensure that consumers are protected from taking out “redundant and costly loan products.” As noted in the announcement, Alchemy customers will be able to access Plaid’s suite of APIs offering “clean transaction, identity, and income data to build more responsible lending products and support the next wave of core lending solutions.”