OXFORD, Ohio, Nov. 10, 2020 /PRNewswire/ -- After 22 years as an electronic payments provider, Cash Flow proudly joins forces with Transaction Science, a groundbreaking predictive analytics company, to form RIBBIT. Visit www.RIBBIT.ai or follow on LinkedIn to learn more.
RIBBIT utilizes patent-pending bank behavior analytics to meet the demands of a rapidly changing world to accelerate financial freedom for all people with better data supporting superior outcomes.
About RIBBIT RIBBIT's BankINSIGHTS suite provides adaptive bank analyticsfor instant credit decisioning, account onboarding, and payments from a single API connection. The combined company's products are designed to simplify financial decisioning without the need for multiple providers, including:
Instant, predictive insights into affordability on 99% of bank accounts
Non-credentialed and credentialed bank account onboarding and underwriting
Proprietary, customer-driven user interface to instantly enroll any bank account
Account verification and transactional behavior analytics
Tokenized ACH and Same-Day ACH payment processing
The Changing Market RIBBIT's adaptive learning methodologies more accurately predict financial outcomes in a turbulent economy. The AI-enhanced platform turns bank and payment data into decisioning intelligence for assessing risk and offering affordable financial products. RIBBIT's proprietary network accesses billions of financial data points to present an authentic, holistic picture of a customer's ability to afford a payment or a loan. Lenders, fintechs, and banks are leveraging the technology to evaluate applicant's creditworthiness and ability to pay.
"One of the most difficult factors to understand when evaluating credit has always been affordability," says Steven Thompson, Chief Data Scientist of RIBBIT. "Our RevealedAffordability™ technology combined with 22 years of Cash Flow Solution's payment experience provides a realistic and instantaneous evaluation of that affordability so consumers and businesses have more opportunities."
The Path Forward Long before the pandemic began, the two companies recognized the inherent weaknesses in using traditional methods to onboard new customers. Shawn Princell, CEO of RIBBIT, explains that "the process to underwrite credit and ACH payment applications is extremely fragmented, especially in today's economy. We've found that combining AI with bank data can more accurately predict affordability, payment risk, and KYC traits. RIBBIT brings together 160+ years of experience in payment and credit decisioning to resolve these problems within a single API."
As a privately-owned and funded business, RIBBIT is excited to explore new strategic partnerships and global expansion.
Cash Flow Solutions Inc. Cash Flow has enabled companies since 1998 to manage risk and process payments from consumer bank accounts via single API connection to enroll, verify, and tokenize bank accounts.
Transaction Science Transaction Science is a fintech company founded in 2019 by credit risk and data science executives with a passion for data engineering, score development and profitable lending decisions using bank data.