Digital financial ecosystem MoneyLion adopted a new solution from Plaid that allows consumers to link their bank accounts and get pre-qualified for loans. When consumers share this information, lenders gain cash flow underwriting insights that enable them to offer credit options that are tailored to the consumer and are more competitive.
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Plaid and MoneyLion team to give lenders cash flow underwriting insights
“This collaboration enhances the overall borrowing experience and, expanding financial access for underserved consumers, ensures more people can access the financial products that best meet their needs,” MoneyLion Chief Product Officer Tim Hong said in the post.
