Open banking innovator Plaid announced a new initiative to enable lenders to leverage consumer-permissioned cash flow data on prospective borrowers. The new entity will serve as a consumer reporting agency that will build solutions that deliver ready-made credit risk insights using this information.
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Plaid launches consumer reporting agency to leverage cash flow data for credit risk insights
"Many lenders simply don’t have the time, money, or technical resources to develop insights on top of this detailed, transaction-level data by themselves."
