The Future of Credit Decisions is Here
Traditional credit reporting data and scores don’t always reflect a consumer’s ability to pay. Envestnet | Yodlee Credit Accelerator can provide a clearer picture by unlocking the power of consumer-permissioned cash flow, income deposit, and asset data throughout the credit lifecycle. This timely, holistic view can support strategic lending decisions and help you extend financial inclusion to more credit-worthy customers.
Alternative Data for Credit Decisioning.
Credit Accelerator covers 95% coverage of US bank account transactions and up to 365 days of statement data for checking, savings, and investment accounts.
Get a clearer picture of consumers’ assets, liabilities, and expenses for strategic and inclusive decisions
Identify and limit credit risk with timely deposit and transaction data providing an up-to-date view
Understand available cash flow with views into DDAs, cash, recent transactions, and money market assets
See IRAs, trading accounts, 401(k)s and other holdings in one easy view through asset verification
Understand current financial obligations with? credit card, auto loan, and mortgage payment data
Income & Expenses
Verify income by reviewing discretionary and non-discretionary expenses and deposits from payroll, contract work, and investments
How Envestnet | Yodlee’s Credit Accelerator Works
- Consumer submits a non-conforming loan application.
- Provider enables consumer to register and select which account(s) they’d like to share.
- Consumer provides credentials and consent for requested accounts.
- Credit Acceleration files are delivered via JSON or PDF.