Could you benefit from a clearer picture of consumers' ability to pay
The future of credit is more holistic
Traditional credit reporting data and scores don’t always reflect a consumer’s ability to pay. Envestnet | Yodlee gathers data on behalf of consumers from the accounts they select and provides an easy-to-use file to the lender they authorize. This data often provides a clearer picture by unlocking 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 consumers.
Key Benefits
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.
Deep Insights
Get a clearer picture of consumers’ assets, liabilities, and expenses for strategic and inclusive decisions
Up-to-Date View
Identify and limit credit risk with timely deposit and transaction data providing an up-to-date view
Cash Flow
Understand available cash flow with views into DDAs, cash, recent transactions, and money market assets
Investments
See IRAs, trading accounts, 401(k)s and other holdings in one easy view through asset verification
Credit Payments
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
Seamless Experience
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.
Expand Access to Credit with Alternative Data
Current cash flow, deposit, and asset data through Credit Accelerator can help to qualify, underwrite, and manage loans more quickly for prospective borrowers that are difficult to assess with traditional credit scoring models and sources.