Jonathan Gurwitz’s Post

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.

We’re unveiling new ways to drive growth and scale faster at Plaid Effects. Save your spot today and tune in on June 18!

Had a great discussion with Rich Alterman on the GDS Lending Link podcast chatting about open banking and our approach at Plaid for driving innovation across the loan lifecycle. Thanks Rich & the GDS team!

Excited to share that Plaid has formed a new CRA entity that will build solutions for customers who want ready-made risk insights from cash flow data. We look forward to working with customers to build the future of cash flow underwriting.   Proud of the Plaid team for all of the hard work that went into this effort. https://lnkd.in/eyrXp7nQ

Enjoyed discussing how real-time cash flow information and other alternative data are helping lenders drive profitable growth and manage risk. We see compelling opportunities and use cases across the loan lifecycle. Thanks to the panelists and the Lend360 team.

Join for #Threads2023 ... our new virtual event with exciting product updates and more!

Enjoyed discussing how alternative data can improve the user experience for consumers and drive profitability for fintechs/lenders alongside Franck Fatras, Rodney Williams, and Bo Brustkern at Fintech Nexus last week.