Rahul Conda’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.

💰 Countless American consumers and small businesses struggle to receive loans or access capital from traditional lenders. Plaid created a solution that aims to fill that gap, using AI to capture more under-the-radar income and expense activity. Consumer Report is a new product that “gives lenders a more complete real-time overview of a prospective borrower’s full cash flow picture.” Learn more in this recent American Banker article ⬇️

We may not be talking about winning the mega millions, but right now is a pretty exciting time to be a credit union. Check out our latest post breaking down why this is, and how you can get ahead of the curve with modern lending architecture. https://lnkd.in/g7gKZwev #loanservicing #creditunions #lendingsolutions #fintech

Knock knock. Who's there? The Dun, here to collect! 💰 Today, we explore the term "Dunning Management." But first, a little word nerd trivia... Way back in the 17th century, there was a breed of debt collector known as the "dun" or "dunner." These folks didn't just send letters - they literally knocked on doors demanding payment. Talk about persistence! So, while the term might sound intense, modern dunning simply refers to communicating with customers about overdue payments to recover revenue while retaining them. The goal? Missed payment recovery through convenient options and customer-centric outreach that nurtures loyalty. So let's give a nod to those scrappy 17th-century duns and help customers get back on track, one well-timed outreach at a time. Now that's money! 💵 #DunningManagement #CustomerEngagement #OverduePayments #WebEngage #RetentionSimplified 🚀

A vivid memory of my childhood was listening to my parents (animatedly) talking about money, and the lack of ability to access it. When my parents purchased their first home in 1981, interest rates were high double digits. My parents were immigrants, and suffered from the problem that many in their shoes face, with thin credit files (at least domestically). With short credit histories, low assets, and high starting rates to begin with, access to credit and affordable financing was hard - for many, near impossible. One of the great promises of open banking is the opportunity to use financial data, outside of traditional measures, to get a significantly stronger profile of consumers and their financial health. The access to greater data sources unlocks opportunities for consumers to gain access to credit, to enable them to participate further in the economy, creating a virtuous cycle for all around. I joined Plaid in part because of the promise that open banking, coupled with great technology and an acute awareness of the consumer, delivered. Amazing to see this launch happen today then - taking a strong step forward to deliver insights on consumers that go beyond traditional mechanisms, to create greater transparency into their actual financial health and help deliver better financial outcomes to people of all types. #plaid #openfinance #openbanking #financialhealth #credit

Effective, efficient communication between lender and settlement is crucial to eClosing adoption. Read how The Federal Savings Bank and BCHH used Connected Closings to accelerate closing speed by at least 1.5 days and return scanbacks 2x faster–all while working better together, improving transparency, and delivering a more seamless borrower experience. https://hubs.ly/Q0217wVl0

Despite the rapidly changing marketplace, #CreditUnions remain deeply focused on #IndirectLending. Discover how successful lenders keep a close eye on their competitors and adapt to best serve their members. Learn more from credit union leaders Emily Gibson, Billy McDaniel, and Chad Wilcox, CCUE in the recap of Origence’s recent webcast: https://hubs.li/Q02bNY6p0

Here's a quick update on product and policy changes we saw from lenders last month. All of the insights outlined were pulled from our Savanna platform, Valiant's all-in-one quoting and application platform for asset & business finance.

Our mission: help lenders make confident credit decisions. Prior to Truv, lenders had to pay a lot of money for a middle-man to tell them about a borrower’s assets and liabilities. But missing from that equation was up-to-date, verified income. And for most borrowers, income can make or break whether they’re qualified for a loan. Yes, we’re a software company. But to our customers, we don’t sell software. We sell fewer repurchases. We sell lower fraud rates. We sell accurate information. In summary - we sell the ability to make confident credit decisions.