Misha Esipov, co-founder and CEO of Nova
Posted: Mon Dec 23, 2024 5:54 am
We believe that by enhancing the conversational capabilities of our models with real-time information from the web, finding what you’re looking for can be faster and easier.Nova Credit has launched a partnership with data access network Akoya. The collaboration, announced Wednesday (Sept. 4), is designed to help lenders employ cash flow and income analytics for better credit decisioning via Akoya’s bank data connectivity and Nova’s analytics and consumer reporting agency expertise. With increased access to trusted data and insights, lenders will be able to more effectively approve new customers, offer new products, and create greater consumer loyalty, all without increasing their risk appetite, the companies said in a news release.
Credit, noted that the partnership will help phone numbers database drive financial inclusion and improved risk management in an era where murky credit data has made it harder for people to get loans. As the industry embraces open banking, we look forward to deepening our relationship with Akoya to deliver the industry’s leading cash flow solution-boosting coverage, improving uptime, and meeting the banks’ analytics and compliance needs, Esipov said. It’s not just the credit industry embracing open banking.
As PYMNTS wrote in late July, 46% of consumers have shown strong interest in open banking, even if just 11% of American adults have used open banking payments in the last year. To unlock this potential, providers must address key barriers such as security concerns, enhance awareness and implement compelling incentives, that report said. Research by PYMNTS Intelligence shows an enthusiasm gap among age groups when it comes to open banking, with 72% of Generation Z and 66% of millennials eager to use open banking payments, significantly outpacing older generations, compared to just 42% of Generation X and 22% of baby boomers.
Credit, noted that the partnership will help phone numbers database drive financial inclusion and improved risk management in an era where murky credit data has made it harder for people to get loans. As the industry embraces open banking, we look forward to deepening our relationship with Akoya to deliver the industry’s leading cash flow solution-boosting coverage, improving uptime, and meeting the banks’ analytics and compliance needs, Esipov said. It’s not just the credit industry embracing open banking.
As PYMNTS wrote in late July, 46% of consumers have shown strong interest in open banking, even if just 11% of American adults have used open banking payments in the last year. To unlock this potential, providers must address key barriers such as security concerns, enhance awareness and implement compelling incentives, that report said. Research by PYMNTS Intelligence shows an enthusiasm gap among age groups when it comes to open banking, with 72% of Generation Z and 66% of millennials eager to use open banking payments, significantly outpacing older generations, compared to just 42% of Generation X and 22% of baby boomers.