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.
Funding
$3.5M 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.
BFounders
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Small and medium-sized business (SMB) lenders often struggle with outdated technology and business models, leading to inefficient lending processes and a disregard for valuable data.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