We’re thrilled to announce our strategic partnership with EDGE, a trailblazer in open banking data and analytics, that provides lenders with comprehensive insights into consumer creditworthiness and fraud risk based on an extensive repository of bank data.
EDGE is a consumer reporting agency (CRA), having established the first and only cash flow bureau with risk analytics equivalent to mainstream credit bureaus but based entirely on bank balance and transaction data. The outcome? Deeper insights into borrowers’ financial behaviors for lenders across the risk and product spectrums.
HES FinTech will integrate EDGE’s open banking data access and analytics solutions into its loan management platform, offering lenders unparalleled access to a broad spectrum of financial data. Our goal is to enable more informed and accurate credit decisions, particularly for underserved markets and individuals with limited credit histories.
EDGE’s analytics go beyond traditional consumer risk metrics, focusing on real-time financial behaviors and activities. This will complement the HES platform with enriched, up-to-the-minute insights that enhance user experience, optimize underwriting processes, and improve decision-making capabilities for clients throughout the U.S. and Canada.
Because EDGE is a CRA with cash flow underwriting tools that have been built and proven through real-world lending decisions, the platform delivers a uniquely holistic approach to risk assessment focused on the needs of consumer lenders from alternative data acquisition to actionable attributes and scores.
By integrating EDGE’s sophisticated analytics into our platform, we’re paving the way for a more inclusive financial ecosystem. Together, we’re setting new standards in understanding and serving the needs of borrowers across the spectrum.
Ivan KovalenkoCo-Founder of HES FinTech
HES LoanBox, known for its flexibility and comprehensive loan servicing features, will be further enriched by EDGE’s real-time banking behavior insights. With battle-tested insights from this powerful alternative data, lenders can streamline applications with more efficient decisioning based on a consumer’s complete financial picture.
HES LoanBox is a tremendously innovative platform, and we’re excited to join their ecosystem of valuable insights providers in order to streamline consumer credit applications and deliver better experiences, offers, and loans to North American consumers.
Brian ReshefskyEDGE founder & CEO
The HES-EDGE partnership is set to offer a more secure and more efficient way for lenders to access and analyze financial data. This collaboration underscores a shared commitment to innovation, financial inclusion, and the continuous improvement of lending practices to meet the evolving needs of both lenders and borrowers.
