MoneyLion Inc. (NYSE: ML) has revealed a parnetship with Nova Credit, a credit infrastructure and analytics company. The goal is said to seek to activate cash flow underwriting within MoneyLion’s hosted decisioning engine.
This collaboration aims to credit issuers on MoneyLion’s platform “to integrate Nova Credit’s cash flow data analytics, providing a more comprehensive view of a consumer’s financial health and expanding access to credit.”
MoneyLion is a digital finance ecosystem “that powers distributable embedded marketplaces, enabling financial product providers to acquire consumers at scale.”
Through its marketplace technology, MoneyLion connects consumers “with real-time, personalized financial product offerings and services through its vast network of financial product providers.”
By partnering with Nova Credit, MoneyLion enables “credit issuers within the MoneyLion ecosystem to utilize Cash Atlas, Nova Credit’s cash flow analytics platform, within its decision engine.”
This integration gives lenders a more “complete view of credit risk, allowing them to use consumer-permissioned bank transaction data to make more informed underwriting decisions.”
By combining embedded marketplace technology “with enhanced data analytics, MoneyLion allows for the expansion of credit access while enhancing risk management.”
Among the first to leverage this capability is Concora Credit, “a service provider that enables credit programs for consumers with less-than-perfect credit.”
Concora Credit is part of a cohort of providers “who will leverage Nova Credit’s cash flow underwriting data to enhance their credit policies to reach a broader range of consumers.”
