Prism Data provides a cash flow underwriting platform that analyzes financial transaction data to predict credit default risk and assess income stability for borrowers with limited credit history. By leveraging over 15,000 trended attributes, the platform enhances credit decision-making, allowing businesses to approve more customers while reducing potential losses.
Funding
$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.
Founders
Product
Problem
Traditional credit scoring methods often exclude individuals with limited or no credit history, hindering their access to financial products. This can lead to missed opportunities for both borrowers and lenders, as valuable insights from financial transaction data remain untapped.
Solution
Prism Data offers a cash flow underwriting platform that leverages financial transaction data to assess credit risk and income stability, particularly for borrowers with thin or missing credit files. The platform analyzes over 15,000 trended attributes derived from consumer-permissioned data, providing a comprehensive view of an applicant's financial behavior. By categorizing disorganized transaction data and identifying key insights such as liquid assets, spending patterns, and income sources, Prism Data enables lenders to make more informed credit decisions. This approach allows businesses to expand their approval rates, reduce potential losses, and better serve a broader range of customers. The platform is available through a secure API and integrates with various data aggregators, decision engines, and core processors.
Target Audience
Prism Data primarily serves banks, lenders, real estate companies, personal finance platforms, and insurance providers seeking to improve credit decisioning and expand their customer base.
Features
- CashScore: A proprietary score that predicts the probability of credit default based on deposit account data.
- Transaction categorization: Automatically categorizes and cleanses raw transaction data for accurate analysis.
- Trended attributes: Surfaces over 15,000 trended attributes, including liquid assets, spending habits, and obligations.
- Income validation: Verifies gross and net pay, income stability, employment status, and multiple income streams.
- Secure API: Single-endpoint API for easy integration with existing systems.
- Compliance: FCRA and ECOA compliant with Adverse Action reason codes provided.
- Data security: SOC2-compliant environment with disk-level encryption and no PII processing or storage.