Scienaptic Partners with Finagraph to Combine the Power of AI and Financial Data for SMB Lending
Dec 19, 2022
Scienaptic, the world’s leading AI-powered credit decision platform provider, announced its partnership with Finagraph, the global leader in financial data collection and analysis. This alliance will enable Scienaptic to use Finagraph’s cutting edge tool, Strongbox, to enhance decisioning for its Small and Medium Businesses (SMB) lending clients by including business financial data.
Finagraph makes financial intelligence and analysis instantaneous through cutting-edge software. The company’s popular product Strongbox is a platform that collects and analyzes financial data from a business’s accounting system. Strongbox outputs are used by credit teams to standardize decisioning criteria and automate risk analysis, as well as accounting firms to streamline analysis and service delivery. The easy, one-click interface Strongbox provides helps busy small and medium businesses securely provide financial information to authorized third parties quickly.
“Lenders need modern financial tools to make robust credit decisions,” said James Walter, Founder & CEO of Finagraph. “Strongbox is the easiest way to unlock financial intelligence from accounting data. This intelligence, paired with Scienaptic’s AI-driven credit underwriting platform, will allow lenders to approve more customers with confidence, mitigate risk, and deliver faster credit decisions. This integration is going to be highly valuable for lenders globally, and we are excited to be a part of this disruption.”
"AI and rich data are revolutionizing credit underwriting," said Pankaj Jain, President and Co-founder of Scienaptic. "Strongbox is helping us gain access to a fuller financial picture of SMBs without increasing the time spent on each application. The partnership will create a seamless digital lending experience that SMBs expect and focus on delivering ‘best-in-class’ credit decisioning.”
Scienaptic AI’s mission is to increase credit availability across the globe by transforming the technology used in credit decisioning. Credit unions, auto lenders, banks, and fintechs, use Scienaptic's AI native credit decisioning platform to continually improve the quality and speed of their underwriting decisions.
The platform enables FIs to reach more borrowers, including underbanked and underserved individuals, and say “yes” more often without increasing risk. It democratizes automated AI-powered lending while addressing all regulatory requirements, including Fair Lending and explainable adverse actions. Scienaptic-enabled lenders have processed more than 200 million transactions, benefitting millions of borrowers. For more information, visit http://www.scienaptic.ai
Finagraph makes financial intelligence and analysis instantaneous through cutting edge software. Finagraph products help businesses across a variety of financial sectors, including Top 25 accounting firms, the Big Four, and the largest fintech companies in the world. Learn more at www.finagraph.com.