Yodlee Empowers Lenders with Innovative Tools for Smarter Credit Decisions and Inclusive Financial Access Using Consumer Cashflow Data, Marking a New Milestone
Yodlee, Inc., a leading data aggregation, analytics and software platform delivering innovative financial technology solutions, announced its subsidiary Yodlee Credit, LLC has completed the steps necessary to operate as a Consumer Reporting Agency (CRA) under the Fair Credit Reporting Act (FCRA). The milestone reflects Yodlee’s commitment to advancing credit decisioning and supporting financial ecosystems with actionable, consumer cashflow data.
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“Launching Yodlee Credit and operating as a CRA underscores the broader Yodlee mission of enhancing financial decision-making and fostering greater inclusion in credit markets.” – Farouk Ferchichi, Chief Executive Officer of Yodlee
By partnering with Yodlee Credit, lenders can incorporate alternative consumer data, such as consumer cashflow data, into their credit models to responsibly expand access to credit.
A Commitment to Inclusive Credit Decisioning
“Launching Yodlee Credit and operating as a CRA underscores the broader Yodlee mission of enhancing financial decision-making and fostering greater inclusion in credit markets,” said Farouk Ferchichi, Chief Executive Officer of Yodlee. “Cashflow data from Yodlee provide a more holistic view of financial health, helping lenders assess risk more accurately and enabling underserved consumers to access credit based on their complete financial story.”
Redefining Credit Decisioning with Consumer Cashflow Data
Traditional credit data providers often fail to capture key aspects of financial behavior, such as consistent income, savings patterns, or regular bill payments, that more accurately reflect financial stability. These gaps have historically limited lenders’ ability to assess risk comprehensively, leaving millions of consumers overlooked by conventional credit systems.
Yodlee Credit allows financial institutions to confidently integrate cashflow data into credit underwriting and consumer evaluation. By leveraging Yodlee’s data aggregation capabilities, the subsidiary unlocks insights that reduce blind spots in risk assessment and expand credit access to more consumers.
Expanding Credit Access
Yodlee Credit’s innovative approach is driven by a vision to create a more holistic financial future and builds on Yodlee’s open banking platform and consumer-permissioned financial data to help clients make smarter, fairer credit decisions. Through real-time analysis of repayment capacity and cashflow trends, lenders can better meet fair lending obligations while providing underserved consumers with more equitable access to credit.
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