"We're excited for this new improvement to our fintech solution," says Clark Huang, Head of Consumer Lending at Lendistry. "With help from RIBBIT, Lendistry will be able to provide an even better customer experience for underserved business owners."
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.
About Lendistry: B.S.D. Capital, Inc. dba Lendistry (lendistry.com) is a minority-led and technology-enabled small business and commercial real estate lender with Community Development Financial Institution (CDFI) and Community Development Entity (CDE) certification. Lendistry is one of the top ranked SBA Community Advantage Lenders nationwide, providing responsible financing to small business owners and their underserved communities. Lendistry is a member of the Federal Home Loan Bank of San Francisco, and is headquartered in a Los Angeles Opportunity Zone. During the COVID-19 pandemic, Lendistry provided Paycheck Protection Program (PPP) loans to small businesses in all 50 states and was selected by the states of California, Pennsylvania and New York to administer their small business relief programs, which distributed grants to businesses that lost significant revenues during the pandemic. Lendistry and its nonprofit partner organization, The Center by Lendistry, are dedicated to providing economic opportunities and progressive growth for underserved urban and rural small business borrowers and their communities.
About RIBBIT
RIBBIT behavioral analytics harnesses the predictive power of open banking and payment data to promote financial inclusion, qualify applicants, onboard bank accounts, and authorize payments. Instantly deploy our actionable intelligence throughout the underwriting waterfall with an unprecedented coverage of 99% of bank accounts. For more information, visit www.RIBBIT.ai.
Contact: Amber Copeland, [email protected]
SOURCE RIBBIT
