Stax Payments founders, Sal Rehmetullah and Suneera Madhani, harness the power of AI to build real-time data underwriting and risk management platform to speed decision making, increase risk accuracy and standardize the business credit score
Worth AI, a fintech SaaS startup, officially launched and announced its artificial intelligence-powered risk management and underwriting technology. The first-of-its-kind, patent-pending platform, fundamentally changes how enterprises underwrite the financial credit worth of small and medium-sized businesses (SMBs), expanding access to more customers, decreasing risk, increasing data transparency, and fueling economic growth. Worth AI enables banks, credit unions, fintechs, and financial service providers to rapidly accelerate approvals for business loans, financial services, and lines of credit with a single business credit score.
The Worth AI, data-driven platform predicts business financial futures, reduces risks, and eliminates biases with real-time data. Leveraging AI, the platform processes thousands of traditional and non-traditional data sources to swiftly generate a unified ‘WorthScore™️,’ while building comprehensive business profiles in minutes.
“Suneera and I are pleased to come together again and launch Worth AI to address the current challenges and inefficiencies when it comes to financing for SMBs,” said Sal Rehmetullah, co-founder and co-CEO of Worth AI. “The innovative approach transforms a historically complex and time-consuming underwriting process into a seamless and intuitive experience. The Worth AI platform enhances the efficiency of financial service providers, creates equal access to capital for small businesses and fosters economic growth for all.”
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“With Worth AI, financial enterprises can finally eliminate process friction between lenders and SMBs, eradicate inefficiencies, reduce operating losses, and gain unparalleled insights into the complete, real-time financial profiles of SMBs, said Asif Ramji, former chief growth officer of FIS, former chief product officer of Worldpay and current executive chairman of Worth AI. “Worth AI’s innovative solution unlocks new avenues for growth for financial service providers and changes the way small business owners can understand and improve their own credit worth.”
Worth AI’s seasoned leadership team, led by fintech veterans, Sal Rehmetullah, and Suneera Madhani, aims to innovate and disrupt the financial credit system. Reinforcing the startup’s commitment to excellence and industry expertise, the duo has brought together a team of executives from Visa, Dun & Bradstreet, American Express, and Google. The startup has also raised over eight figures in pre-seed funding to fuel its aggressive growth plans and plans on raising further capital from strategic partners.
“We are launching Worth AI because there is a desperate need for data transparency and accurate financial profiling of businesses,” said Suneera Madhani, co-founder and co-CEO of Worth AI. “The credit score has been standardized from a consumer lens, but the business credit score has not – and every financial institution, lender, bank, and fintech is assessing SMBs uniquely, with outdated human decisions and risk engines causing biases in decision making and massive risk of loss. Worth AI is going to set the standard for the new business credit score and I couldn’t be more excited for businesses to know their worth.”
The Worth AI Platform encompasses a diverse range of essential features tailored exclusively for financial lenders and SMBs, including:
Onboarding Acceleration
The Worth AI Platform utilizes AI-powered global intelligence to make credit decisions in an automated manner, which expedites the approval process and enables faster onboarding of customers. This feature helps businesses to acquire the necessary capital quickly and efficiently, enabling them to grow and expand rapidly.
Accurate and Efficient Underwriting
Worth AI has developed an advanced decision-making engine powered by AI technology. This engine is capable of analyzing thousands of data points to enable precise and efficient case management. By considering a comprehensive range of factors, enterprises can benefit from accurate decision-making processes, leading to increased loan approval rates and access to vital funds.
Predictive Risk Monitoring
The Worth AI Platform utilizes ongoing portfolio evaluation to offer small and medium-sized businesses with instantaneous status updates and predictive monitoring capabilities. This allows for the speedy recognition of potential risks, ensuring that businesses can proactively deal with any changes or vulnerabilities that may affect their financial stability.
WorthScore™️: The Cornerstone of the Worth AI Platform
The Worth AI Platform synchronizes various financial information, generating comprehensive business credit scores. It also calculates the WorthScore™, a predictive business value score that helps businesses understand their financial position and improve their creditworthiness. With the implementation of the AI-powered Worth AI Platform, businesses can expect accessibility to loans, streamlined decision-making, and increased opportunities for growth and success.
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