AltScore provides an AI-driven credit infrastructure that enables B2B companies to launch and manage their own credit products through a suite of APIs, streamlining onboarding, underwriting, and loan management processes. This solution addresses the challenge of slow credit product deployment, allowing businesses to increase approval rates by 30% and reduce defaults by 21% within weeks.
Funding
$12.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
+2Founders
Product
Problem
Many B2B companies face challenges in offering credit products to their customers due to slow deployment times, complex onboarding processes, and difficulties in underwriting and loan management. This often results in missed sales opportunities and hinders growth, especially when serving small and medium-sized enterprises (SMEs).
Solution
AltScore provides an AI-powered credit infrastructure that enables B2B companies to launch and manage their own credit products through a suite of APIs. The platform streamlines the entire lending process, from onboarding and KYC/KYB verification to underwriting, loan activation, and collections. By leveraging alternative data sources and AI-driven insights, AltScore helps businesses make smarter credit decisions, increase approval rates, and reduce defaults. The platform offers a complete digital "Rails of Lending™," allowing companies to offer loans to their customers or suppliers and unlock AI-driven insights for more profitable credit decisions.
Target Audience
AltScore primarily targets B2B companies, particularly those in Latin America, that want to offer credit products to their SME customers or suppliers.
Features
- AltData™ API: Analyzes both banked and unbanked consumers and businesses using alternative data sources.
- Scoring-as-a-Service: Combines internal data with AltData™ for agile and accurate credit decisioning.
- KYC/KYB Verification: Instant document validation and ID verification from 150+ data sources.
- Automated Loan Activation: Digitizes legal documents and automates loan disbursements.
- Loan Management System: Provides real-time visibility of amounts, payments, delays, and interests.
- Smart Collections: Enables personalized digital repayments with automated reminders powered by machine learning.
- Behavior-based Renewals: Analyzes portfolio behavior with AI to enable smart renewals and build customer loyalty.
- Integrations: Seamless integration with tools like Telegram, Github, Discord, Sketch, Framer, Spotify, Figma, and Slack.