Homeppl provides a fraud detection and affordability analysis platform that transforms bank statements and financial documents into detailed consumer profiles, enabling more accurate credit decisions. By automating risk assessments, the technology helps businesses reduce fraud losses and approve a higher volume of applicants with confidence.
Funding
$7M 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.
CASCVCFounders
Product
Problem
Financial fraud and defaults are increasing, compelling consumers to borrow more during economic hardship. Traditional methods of assessing consumer risk often involve manual reviews of financial documents, which are time-consuming and prone to errors, leading to potential fraud losses and missed opportunities to approve creditworthy applicants.
Solution
Homeppl offers a platform that automates customer risk assessment by transforming bank statements and financial documents into detailed consumer profiles. The platform leverages advanced fraud detection technology to identify fraudulent applications and provides granular affordability insights for more precise financial profiling. By automating manual application reviews, Homeppl enables businesses to reduce fraud losses, make better credit decisions, and approve a higher volume of applicants with confidence. The platform's technology allows for the qualification of consumer or business applications with speed and accuracy, reducing customer onboarding friction and cutting operational costs.
Target Audience
Homeppl's primary customers include fintech companies, real estate businesses, lenders, banks, and HR departments seeking to automate risk assessments, reduce fraud, and improve decision-making.
Features
- Advanced document analysis including font analysis, meta-analysis, and full file version history to determine authenticity.
- Financial data analysis to extract, organize, and analyze data from any bank statement.
- Open Banking algorithms to instantly verify income and financial history.
- Fraud database to detect anomalies and fraud rings in each application.
- AML and compliance checks against politically exposed persons, criminal sanctions, and adverse media watchlists.
- API and web app access for easy integration and data collection.
- Guarantees to protect liabilities and assets without common insurance friction.