Seen Finance has launched a partnership with Nova Credit to enhance credit accessibility by utilizing cash flow information.
This collaboration will enable Seen to integrate the Nova Credit Platform into various stages of the customer journey, thereby extending credit options to eligible applicants.
The partnership addresses a significant issue in consumer lending, as many Americans who are financially capable face difficulties accessing credit due to constraints within traditional underwriting methods. By integrating Nova Credit’s extensive cash flow data solutions into their assessment processes, Seen can offer second chances to individuals who might have been rejected previously and proactively identify qualified consumers for pre-qualification.
Demonstrating advanced technology that responsibly expands credit access while ensuring robust risk management
The official press release indicates that this partnership with Nova Credit is a crucial milestone in Seen’s efforts to promote financial inclusion. Nova Credit’s multi-aggregator infrastructure and refined analytics will help Seen evaluate applicants more comprehensively, whether they are new customers or deserving of reconsideration. This approach allows bank partners to extend credit opportunities to numerous qualified individuals who need access to financial tools that can positively impact their lives.
Seen’s line of credit cards tailored for customers with less-than-perfect credit histories were issued by Coastal Community Bank. With Nova Credit’s support, Seen has the potential to obtain detailed cash flow data from multiple sources and offer a more thorough assessment of an applicant’s financial standing beyond just traditional credit scores.
After the initial launch, Seen plans to expand this partnership across different use cases and investigate further applications of Nova Credit’s technology throughout the customer experience. This expansion underscores Seen’s ongoing dedication to finding solutions and services that emphasize education, empowerment, and opportunities for improved financial futures.
