Next-gen loan origination platform to offer end-to-end open
banking underwriting insights as part of its highly-customizable
system
CHICAGO and NEW
YORK, June 25, 2024 /PRNewswire-PRWeb/ -- EDGE,
a leading provider of income verification and cash flow analytics
is excited to announce a new partnership with Fuse, an advanced
loan origination system with a focus on automated decisioning and
customization via no-code tools.
Fuse's technology exists to streamline the
lending process for banks and credit unions. EDGE's analytics make
it possible to take that optimization to the next level with
real-time cashflow insights in their risk decisions.
The partnership will seamlessly integrate EDGE's proprietary
cash flow analytics and risk analysis into Fuse's next-generation
loan origination software.
"We're thrilled that Fuse customers will now be able to access
EDGE's proprietary cash flow analytics directly on the platform,"
said Brian Reshefsky, CEO of EDGE.
"This is a huge leap forward in removing friction from the
decisioning process and an ideal showcase for the power of open
banking."
The Fuse Loan Origination System takes full advantage of today's
advanced technology to provide users with a simple, end-to-end
system with robust customization capabilities. Beginning with
code-free tools that automate decisioning, Fuse features more than
100 pre-built integrations for easy connection to all the key
providers in the lending ecosystem, a streamlined agent portal that
reduces training and switching time, along with advanced track and
trace for all data that flows through the platform.
"Fuse delivers a modernized workflow that helps banks and credit
unions move away from inefficient legacy systems," said
Andres Klaric, Co-CEO of Fuse.
"Integrating EDGE and the proven value of their insights simply
offers lenders more reasons to switch to Fuse."
EDGE's integration with Fuse will enable lenders on the platform
to utilize robust cashflow analytics in order to look beyond
traditional credit scores and decision on applicants' ability to
pay based on cashflow data. As part of the integration, Fuse
clients can enjoy industry-leading bank connection rates with smart
routing across EDGE's network of data aggregation partners as well
as decision-ready credit risk insights.
The consumer credit risk attributes and scores that EDGE
produces leverage over two decades of experience in consumer
lending along with the industry's largest data lake of open banking
data married to loan outcomes. Lenders provide loan outcomes to
EDGE as a consumer reporting agency, and EDGE in turn issues
consumer reports based on cashflow data that lenders can expressly
utilize for approvals and adverse action alike.
"Fuse's technology exists to streamline the lending process for
banks and credit unions," remarked Klaric, "EDGE's analytics make
it possible to take that optimization to the next level with
real-time cashflow insights in their risk decisions."
"Our partnership with Fuse brings EDGE's powerful insights to
more lenders who embrace progressive risk assessment methods," said
Reshefsky, "That's a win for everyone in the consumer credit
ecosystem, from lenders to the consumers we ultimately serve."
About Fuse:
Fuse is a next-gen loan origination system (LOS) that simplifies
lending for financial institutions by providing the ability to
customize financial rules, utilizing a low-code API builder and
personalized agent portal. Dedicated to simplifying and modernizing
the LOS market, Fuse delivers top-tier, customer-focused technology
solutions for financial institutions. By streamlining the lending
process, Fuse facilitates reliable interactions between lenders and
borrowers, providing a secure and scalable platform for banks,
financial institutions, credit unions, and fintechs.
About EDGE:
EDGE is a consumer reporting agency based on open banking data
from an optimized portfolio of bank data aggregators and risk
analytics built by lenders for lenders for
actionable insights into consumer creditworthiness. The platform
was launched by the lenders, entrepreneurs, and data scientists who
pioneered data-driven digital lending for Everyday Americans two
decades ago. EDGE delivers risk insights for use cases across the
credit account lifecycle that have been performance-tested on real
world lending decisions on over four billion bank transactions
linked to over half a billion dollars in loans since 2017.
Media Contact
Media Relations, EDGE, 1 312-205-8996,
media@edgescore.com
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SOURCE EDGE