My “a ha” moment around the power of cash flow underwriting (more below ⬇ ) Years ago, I was leading partnerships for a major lending marketplace when the pandemic hit. Unemployment rose, lenders tightened underwriting, and some stopped originating completely. At the time I’d ask lenders: what do you need to see to start making loans again? There was a consistent answer: they wanted a fuller financial picture of their applicants. The economic environment seemingly transformed overnight, and they needed more actionable and real-time cash flow data to supplement traditional credit data. From that point on, I knew that cash flow data was the missing puzzle piece in lending. Years later, this is as true as ever. Today, I’m excited that cash flow underwriting is *finally* mainstream with Consumer Report, a new solution from Plaid Check, our consumer reporting agency. Built on Plaid’s expertise in bank account connectivity, Consumer Report provides lenders, property managers, and other credit providers real-time visibility into a borrower’s finances, along with signals only made possible through our vantage point as the leading open banking network. We look forward to working with customers to build the future of cash flow underwriting! See post in thread to learn more.
Bill Cooper
4w
How do you 'evaluate/underwrite' the potential of cash flow? Does it score within your model or only the prior cash flow completions from similar sources?
Lucy Jackson
4w
Love this. So excited to be on this journey with you Jonathan Gurwitz!
Rahul Conda
3w
Very cool Jonathan Gurwitz . Is this a consumer product or do you have an equivalent for businesses (to understand the credit worthiness of small businesses, for example)
Leslie Fish
3w
Impressive
👏👏👏👏👏 congrats y’all! What a great dream team behind this 💕
Amy Fisher
4w
Well said Jonathan Gurwitz
Andy Kim
4w
Big time, congrats Jonathan Gurwitz
Nate Bray
4w
So cool. Double like! 👍🏼
Credit Lead at Plaid
4wCheck out our announcement and get in touch here: https://plaid.com/blog/introducing-plaid-check-cra-consumer-report/?utm_medium=Or[…]=Plaid_CRA_Social&utm_term=Jonathan_Gurwitz&utm_content=Employee