Flowcast leverages AI to help financial institutions make smarter credit decisions. Nowadays, 3 out of 4 small businesses, from online sellers to small retail shops, can’t get the financing they need to grow, or even sustain their business. The problem doesn’t lie on lack of creditworthiness. The real issue is that lenders are unable to assess their risk.
Flowcast proposes an AI-powered credit decision solution to assist with decisions on credit-invisible SMEs. With significantly greater accuracy in assessing risk, lenders can onboard new borrowers whose risk they couldn’t previously assess. Further, lenders can actively monitor existing client credit profiles in real time, allowing for dynamic credit limit adjustment.
Through automation, lenders can speed up the underwriting process by 2-3x, enabling them to process more applicants.
Sterling Pratz, CEO of our portfolio company CAR IQ talks about how customers are looking for new ways to pay that is easier and more secure with PYMNTS.
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