Pave offers AI-powered cashflow analytics and custom risk scores to help lenders assess financial health beyond traditional credit checks. Their platform analyzes income trends and spending patterns to increase approval rates, reduce default risk, and personalize loan offers for a broader range of customers.
Funding
Funding not disclosed
Founders
Product
Problem
Traditional credit scoring models often overlook creditworthy individuals and businesses due to reliance on historical data and limited insight into real-time financial behavior. This results in lower approval rates for underserved applicants and missed opportunities for lenders to expand their portfolios.
Solution
Pave provides AI-powered cashflow analytics and custom risk scores that enable lenders to assess applicant financial health beyond traditional credit checks. By analyzing income trends, spending patterns, and repayment behavior, Pave's platform helps lenders increase approval rates, reduce default risk, and personalize loan offers. Lenders can integrate Pave's solutions to augment their existing risk models, gain deeper insights into borrower affordability, and confidently extend credit to a broader range of customers. This approach facilitates more accurate underwriting and supports responsible lending practices.
Target Audience
Pave serves consumer and business credit providers, including banks, credit unions, and fintech companies, seeking to enhance their credit risk models and expand lending to underserved segments.
Features
- AI-driven cashflow analytics engine that processes billions of financial data points in near real-time.
- Suite of over 7,500 pre-built Cashflow Attributes covering stability, affordability, assets, and willingness to pay.
- Product-specific Cashflow Scores designed to predict repayment likelihood for various credit products, including cash advances, personal loans, and charge cards.
- Machine learning models trained on extensive loan performance data to identify underserved but creditworthy borrowers.
- API endpoints for seamless integration of cashflow data, attributes, and scores into existing lending workflows and risk models.
- Snowflake Data Sharing integration for direct access to Pave's standardized cashflow data tables.
- Capabilities to detect and predict income, forecast overdrafts, identify rent payments, and analyze end-of-day balances.
- Partnership integrations, such as with Taktile, to automate SMB credit underwriting processes.