Portfolio company Quovo is launching a new product, Income + Expense, that equips lenders with insights to streamline origination, funding, and ongoing servicing workflows. Income + Expense analyzes and summarizes recurring and irregular income and expense streams, creating a cash flow model and enabling lenders to estimate balances up to 30 days in advance.
Income + Expense and Balance Estimator also provides valuable cash-flow- based insights that can be combined with Quovo’s core data products, such as Aggregation and Authentication, to create end-to-end solutions for lending, from the first loan application to the last servicing event. While sharing more details about the products, Niko Karvounis, co-founder and Chief Product Officer of Quovo, stated: “Quovo has long had clients from across the spectrum of financial services, including some of the country’s largest lenders, and we saw an opportunity to optimize the way our data products work together to provide an improved borrowing experience. And with two new products added to the mix—Income + Expense and Balance Estimator—we’ve significantly expanded our ability to help loan originators and servicers.”