Open banking presents new capabilities for business lenders. One of the most notable: Secure, immediate access to financial insights using automation. As data availability and technology advances, bank and non-bank lenders must improve how they assess credit worthiness.
Earlier this year, LendIt and ForwardAI collaborated on a market survey to assess how lenders use business and financial data, apply technology to predict borrower outcomes, and drive credit decisioning.
Our goal was simple: Understand data gathering practices and how these data (and insights) influence performance.
This report explores findings to these issues – and uncovers the differentiators of tech-forward lenders.Sponsored By: