Charm Solutions
Charm Solutions provides an AI/ML powered software platform specifically designed for Small and Medium Business (SMB) lenders. This platform transforms financial data into actionable insights through continuous self-learning analytic models. The technology enables financial institutions to serve SMBs more safely, efficiently, and profitably by optimizing underwriting and portfolio monitoring.
- Artificial Intelligence
- Data & Analytics
- Enterprise Software
- Financial Technology
- Software Only
Funding
Raised to date
$3.5MRaised 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.
across 1 round
$3.5M · Seed
Announced Apr 2023
Disclosed cumulative: $3.5M
Founders
Product
Problem
Small and medium-sized business (SMB) lenders often struggle with outdated technology and business models, leading to inefficient lending processes and a disregard for valuable data. This results in limited and unsatisfactory funding options for business owners, contributing to a significant funding gap.
Solution
Charm Solutions offers an AI/ML-powered software platform designed to transform financial data into actionable insights for SMB lenders. The platform employs continuous self-learning analytic models to optimize underwriting accuracy and portfolio monitoring. By integrating seamlessly with existing workflows and applications through a robust API service, Charm Solutions enables lenders to identify promising SMB leads, manage portfolios effectively, and detect trends in customer behavior. The platform's AI-powered widgets embed directly into current financial applications, providing access to key features and insights into a customer's financial health.
Target Audience
Charm Solutions primarily targets small and medium-sized business lenders, including banks and credit unions, seeking to enhance their underwriting processes, optimize portfolio monitoring, and identify new lending opportunities.
Features
- Customizable real-time scoring models that integrate seamlessly with existing workflows and applications
- Web application ready with a robust API service for direct integration
- Widget-based technology for embedding AI-powered widgets into existing financial applications
- SMBScoreTM, built from decades of SMB accounting data from over six countries, utilizing proprietary ML technology
- AI-driven underwriting process optimization to improve accuracy from three intelligence pillars of data sets
- Continuous tracking and monitoring of default probability utilizing a borrowers' account behavior and patterns
- Opportunity insights to analyze deposit portfolios for qualifying SMBs for new financial product offers
- Large-scale data sets to provide valuable insights for determining financial health, optimizing operations, and making strategic decisions