eProdigy is a fintech company that aims to serve the entire alternative finance industry ecosystem. A key component of our leading innovative technology is our robust state-of-the-art automated underwriting engine that uses integrations, aggregations, scripts, and scrapers to help alternative lenders quickly assess requests for business loans and cash advances. The amount of financial data available to lenders is massive, but it’s also scattered and sometimes difficult to get too. eProdigy finds that information and aggregates and condenses it so that lenders can get in real-time a larger, more accurate picture of an applicant’s propensity to repay a cash advance or loan. eProdigy has integrated data from Authorize.net, PayPal, and Quickbooks. In September 2015, we announced the integration of data from Square and Stripe allowing a broader view of merchant data. We also pull data from government institutions, such as the IRS, through publicly available APIs. eProdigy’s underwriting engine also incorporates the Envestnet® | Yodlee® Aggregation API, which is both a source of a large amount of useful data and a time saver in the eProdigy development process allowing us to go beyond the analysis of bank data and analyze other important financial data. Integrating with Yodlee Aggregation API enables us to access valuable data from UPS, FedEx, PayPal, Amazon and more. It eliminates the extra work to incorporate that data, so that we can focus on growing in other ways. Additionally, instead of us integrating a separate API for PayPal, we just connect through Envestnet | Yodlee. The alternative finance industry is still young. eProdigy and Envestnet | Yodlee are at the forefront of developing technology to replace the laborious and time-intensive process of manually researching and underwriting business loans and cash advances with a fast, paperless, secure alternative. As the industry grows, eProdigy will grow with it through more partnerships that will collect and condense the big data that lenders need to make confident financial decisions.
