KlearLink provides lenders and financial service providers with real-time visibility into alternative credit data. This enables more accurate credit decisioning, helping consumers access competitive and affordable credit opportunities.
Funding
Funding not disclosed
Founders
Product
Problem
Traditional credit risk assessment relies on limited and often outdated data, hindering lenders' ability to accurately evaluate borrowers, especially those with thin credit files or who utilize alternative credit products. This incomplete visibility leads to increased risk of credit stacking, fraud, and inaccurate debt-to-income ratio calculations.
Solution
KlearLink provides lenders with real-time access to alternative credit data, offering a comprehensive view of a borrower's short-term credit obligations and performance. By aggregating data from various sources, including Buy-Now-Pay-Later and short-term high-cost credit providers, KlearLink enables lenders to make more informed decisions, reduce risk, and identify new customer segments. The platform's API architecture allows for frequent data updates, ensuring lenders have the most accurate and up-to-date information on their customers' credit activity. KlearLink's suite of products, including KlearSync, KlearProfile, and KlearWatch, offers a complete solution for alternative credit data management and risk assessment.
Target Audience
KlearLink primarily targets lenders and financial service providers, including those offering Buy-Now-Pay-Later services and short-term loans, who need real-time visibility into alternative credit data for improved decision-making and risk management.
Features
- **Real-Time Data Access:** API architecture enables creditors and collectors to report, update, and amend accounts every 30 minutes.
- **Comprehensive Short-Term Credit Data:** Aggregates data from Buy-Now-Pay-Later and short-term high-cost credit providers.
- **KlearSync:** API or no-code ETL solution for integrating KlearLink into existing credit data workflows.
- **KlearProfile:** API product for controlled dissemination of cross-party lending statuses, providing insights into applicants' prior payment performance.
- **KlearWatch:** Webhook interface for real-time notifications of consumer match creation, updates, or removals.
- **Fraud Prevention:** Detects and prevents fraud stacking by identifying the velocity of credit acquired in the last 60 days.
- **Credit Stacking Reduction:** Provides visibility into the amount of credit a customer has accumulated in the last 60 days.
- **Debt-to-Income Precision:** Enables accurate debt-to-income ratio calculations using real-time data.