The Case For Cash

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What is this White Paper about?

This whitepaper from Nova Credit, a fintech that unlocks opportunities for those historically excluded from the credit system and companies looking to serve them, highlights recent innovations in underwriting analytics, the need for lenders to improve their underwriting models to be more inclusive and how cash data in conjunction with credit data substantially improves the overall quality of credit risk assessment.

Traditional credit underwriting practices have unintentionally excluded 60 million consumers from credit and financial services. These consumers are Credit Excluded not because they’re high risk, but because the current system simply doesn’t assess their potential risk properly. Incorporating bank transaction data into underwriting practices not only enhances the lender’s capacity to accurately assess consumer credit risk, but has the potential to end the very idea of a Credit Excluded population in the United States.