Fintech company Stratyfy has entered a collaboration with Prism Data to support lenders in optimising their decision-making process by utilising cash flow data. Through their strategic partnership, Stratyfy is set to utilise Prism Data’s cash flow data and scores to allow lenders to make more informed decisions when traditional credit data is insufficient.

Prism Data delivers cash flow underwriting that leverages digital deposit account data to increase access to credit for consumers who have scarce traditional credit history or for whom traditional credit history does not deliver the proper financial details. On the other hand, Stratyfy, which is a women-led fintech, focuses on handling bias in artificial intelligence (AI) and improving credit risk decisions through transparent machine learning (ML) solutions. Stratyfy and Prims Data’s partnership objectives According to Stratyfy’s officials, the company is committed to developing a more inclusive and sustainable financial system and the collaboration with Prism Data is set to further support and advance its mission.

By merging its proprietary AI/ML technology with Prism Data’s CashScore, the two firms plan to utilise cash flow data to assist lenders in accurately and transparently identifying credit-worthy customers who may have been overlooked by traditional providers. In addition, Prism Data’s CashScore solution uses extensive financial data points that are usually not included in traditional credit reports, thus, simplifying complex cash flow underwriting. The service also integrates financial factors that support the assessment of creditworthiness, such as income, assets, expenses, volatility, and ability to pay. Lenders can leverage CashScore on its own to approve or decline credit applications or merge it with traditional credit models and scores.

Representatives from Prism Data highlighted that pairing CashScore with Stratyfy’s decisioning technology is set to improve lenders’ ability to advance financial inclusion while increasing their profits. The company also delivers predictive attributes via its Insights product, with lenders being able to utilise it to develop custom models, craft credit strategies, and assess their users at a granular level. .