Responsible Lending Requires Sound Decisions: RIBBIT Partners with Lendistry
PRNewswire — January 25, 2022 | RIBBIT, a provider of open banking behavioral data analytics, announces today a strategic partnership with Lendistry, a minority-led fintech committed to providing economic opportunities to small businesses owned by women, minorities, veterans, and those located in low-income areas.
Founded to fill the gaps that leave the fastest-growing group of small business owners unserved in the financial industry, Lendistry has partnered with RIBBIT to provide adaptive behavioral analytics and increase the speed and accuracy of its decisioning processes. RIBBIT empowers users to make decisions quickly and confidently, providing insights on 99% of all bank accounts and more than 8,000 decisioning attributes.
Small businesses are still struggling from the pandemic and traditional credit scores alone do not tell the complete story. This is where RIBBIT enters the narrative, providing analytics from traditional and non-traditional sources. This is integral to providing the contextual insights necessary to make better lending decisions. The partnership will improve Lendistry’s ability to assess their core demographic by providing deeper intelligence, enhanced insights, and ultimately extending the reach of their platform.
Lendistry plans to incorporate RIBBIT’s solution into its decisioning process in Q1 of 2022. Lendistry is a minority-led and technology-enabled small business and commercial real estate lender.