Provides a plug-and-play platform that integrates a customizable Point of Service (PoS) and a centralized portal to streamline applicant data collection, verification, and workflow management for lenders. By automating processes like KYC, IBV, and document requests, it reduces manual effort, prevents fraud, and enables real-time decision-making, improving applicant retention by 50% and supporting over 32,700 users.
Funding
$1M 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.
Founders
Product
Problem
Lenders often face challenges in efficiently collecting and verifying applicant data, leading to manual effort, increased risk of fraud, and delays in decision-making. Traditional processes can be cumbersome for applicants, resulting in higher drop-off rates and reduced applicant retention.
Solution
Hatch provides a plug-and-play platform that combines a customizable Point of Service (PoS) for applicants with a centralized portal for lenders, streamlining the entire data collection and verification workflow. The platform automates key processes such as KYC (Know Your Customer), IBV (Instant Bank Verification), and document requests, reducing manual effort and improving accuracy. By providing real-time data and insights, Hatch enables lenders to make faster, more informed decisions, improving the applicant experience and increasing retention. The modular design allows lenders to create custom workflows and tailor the PoS to match their brand identity.
Target Audience
Hatch primarily targets lenders, including banks, credit unions, and other financial institutions, seeking to streamline their applicant data collection, verification, and decision-making processes.
Features
- Customizable Point of Service (PoS) flow builder for creating tailored application workflows
- Centralized portal for managing automations, configuring workflows, and accessing real-time applicant data
- Integrated KYC and IBV solutions for robust fraud prevention and seamless verification
- Automated document requests to minimize back-and-forth communication with applicants
- White-labeling capabilities to customize the PoS with brand-specific fonts and colors
- Rule engine for instant applicant qualification based on predefined criteria
- Secure data storage with end-to-end encryption
- API integration with existing CRM systems