MoneyLion, recognised as a pioneering digital ecosystem for consumer finance, today announced a pivotal partnership with Nova Credit, a leader in credit infrastructure and analytics.
MoneyLion, renowned for its digital finance ecosystem, empowers financial product providers to connect with consumers on a grand scale through distributable embedded marketplaces. Meanwhile, Nova Credit stands as a forefront analytics firm, providing critical data infrastructure to streamline credit decisions.
The essence of this partnership lies in integrating Nova Credit’s cash flow analytics platform, Cash Atlas™, into MoneyLion’s decision engine. This integration will furnish lenders on the MoneyLion platform with an expanded view of consumers’ financial health, thus broadening the accessibility of credit.
Tim Hong, Chief Product Officer at MoneyLion, shared his vision for the partnership, “Since our inception, MoneyLion has been focused on increasing access to financial products.
“Cash flow data is essential for understanding consumers more holistically and unlocking more ways to provide consumers with the services they need. Our partnership with Nova Credit strengthens MoneyLion’s ability to provide financial institutions with better tools to make informed credit decisions and expand the range of consumers they can serve.”
Misha Esipov, CEO and Co-Founder of Nova Credit, also commented on the collaboration, “We are thrilled that MoneyLion and Concora Credit recognize the transformative power of cash flow underwriting and the strength of our analytics. The ability to see new lending opportunities within existing populations is a huge lift to lenders that work hard to acquire and build strong customer experiences.
“This is a transformative partnership that will accelerate the availability of consumer-permissioned cash flow data analytics to many more financial institutions looking to lend to more borrowers while maintaining strong risk management.”
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