SOLO provides a real‑time, permissioned shared record of an individual’s or business’s financial data that banks and fintechs can publish, verify, and maintain together. By aggregating balance sheets, tax returns, and account balances into a single profile, it eliminates redundant data collection, speeds onboarding, and ensures FCRA‑compliant dispute handling while rewarding data furnishers for reuse.
Funding
Funding not disclosed
BVFounders
Product
Problem
Customers and small businesses often must repeatedly provide the same financial information to multiple banks and fintechs, leading to onboarding delays and a poor user experience. Financial institutions, in turn, must re‑verify data that already exists elsewhere, incurring redundant costs and compliance overhead.
Solution
SOLO creates a single, permissioned record of an individual’s or business’s financial data that is shared in real time among participating banks and fintechs. By publishing, verifying, and maintaining data collaboratively, the platform eliminates the need for customers to restart the onboarding process and reduces the need for institutions to re‑verify information. The shared record supports secure data exchange, FCRA‑compliant dispute handling, and streamlined corrections, enabling faster onboarding, lower data acquisition costs, and compliance with open‑banking standards. Additionally, SOLO rewards data furnishers and allows participants to monetize data reuse for AI models and credit scoring.
Target Audience
Primary customers are banks, credit unions, and fintech companies that need reliable customer financial data for onboarding, underwriting, and servicing, as well as consumers and small‑business owners seeking faster, hassle‑free access to credit services.
Features
- Real‑time, permissioned data sharing platform that aggregates balance sheets, profit & loss, tax returns, and account balances into a single profile
- API‑driven access for banks and fintechs to query existing verified data that meets their underwriting policies
- Built‑in FCRA‑compliant dispute and record correction workflows for consumers and SMBs
- Incentive model that compensates data furnishers and rewards participants for data reuse and model building
- Secure, encrypted data storage with granular consent controls to ensure privacy and regulatory compliance