Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

Prism Data Unveils CashScore v3, the Next Generation of Credit Scoring


News provided by

Prism Data

Dec 07, 2022, 09:30 ET

Share this article

Share toX

Share this article

Share toX

CashScore by Prism
CashScore by Prism

CashScore™ by Prism harnesses the emerging power of open banking to help lenders reduce credit risk, serve new populations, and prevent fraud

NEW YORK , Dec. 7, 2022  /PRNewswire-PRWeb/ -- Prism Data, an open banking analytics platform, today introduced CashScore v3, a powerful new version of its CashScore credit scoring model that leverages anonymized, consumer-permissioned open banking data to fully illuminate a consumer's true credit risk. That deeper understanding enables lenders to build more resilient businesses while reining in the risks of future losses.

Traditional credit data provides a limited view into a consumer's financial status and creditworthiness. Prism's market-leading CashScore harnesses the power of open banking to drastically expand that view, incorporating thousands of financial insights that are vital to evaluating credit risk but missing from traditional credit scores—from income and savings to rental payments and use of emerging forms of borrowing like Buy Now, Pay Later (BNPL) loans.

Prism’s CashScore makes it easier for financial institutions and fintechs to analyze and interpret open banking data so they can understand—with unparalleled clarity—a consumer’s full financial picture.

Post this

Measuring a consumer's income, spending, and savings to determine creditworthiness—a process commonly referred to as "cash flow underwriting"—has previously been a time-consuming and largely manual task. Prism's CashScore automates the process, simplifying consumer cash flow underwriting to a three-digit score that is reliable, accurate and compliant with lending regulations.

Prism's infrastructure makes it easier for financial institutions and fintechs to analyze and interpret open banking data so they can understand—with unparalleled clarity—a consumer's full financial picture. With an expanded universe of fresh, actionable data, clients can proactively improve underwriting strategies, minimize first-party fraud, and better manage servicing of their portfolios.

CashScore v3 is the first-ever consortium-based cash flow underwriting model, built using millions of anonymized, consumer-permissioned records from a variety of different banks, credit products and customer segments. Similar to traditional models like FICO or VantageScore, Prism's consortium-based CashScore v3 offers lenders a highly predictive tool they can use off-the-shelf to more precisely assess credit risk in any consumer context—from credit cards and personal loans to mortgages and auto loans, among others.

"The best models are based on many observations and diverse data sets," said Brian Duke, Prism Data's Vice President of Data Science. "Prism has seen more financial transaction data, over a longer period of time, than any other cash flow underwriting provider. As a result, we're able to provide a scoring and analytics platform with category-leading reliability and predictive power."

Since its introduction, Prism's CashScore has been used to inform more than one billion dollars in real-world credit originations for hundreds of thousands of consumers.

The CashScore is highly predictive, reliably and consistently outperforming traditional credit scores and custom bureau models on a standalone basis, and provides even greater predictability when combined with traditional scores and models. Prism's CashScore has been shown to reduce expected credit losses by as much as 30%, and increase approval rates by up to 10% without impacting loss rates. The model's predictive power extends across the entire credit spectrum, from higher-risk consumers with thin credit files and/or subprime bureau scores to lower-risk/prime consumers with thick credit files.

With this new CashScore, clients can:

    • Gain new insights and accurately predict credit behavior. The new CashScore enables lenders to more precisely assess a consumer's current financial condition and ability to repay, incorporating income, savings and spending data that are not available in traditional credit reports. This provides Prism clients with an analytical edge over competitors relying on information that is more limited, stale, and often less accurate. With the CashScore, this comprehensive cash flow underwriting is available in a three-digit score that clients can easily implement into existing loan applications and credit policies.
    • Serve new and historically marginalized populations without increasing credit losses. Clients can utilize the CashScore to score millions of consumers who today have no credit score or have thin or stale credit files that do not accurately reflect their true financial health. Prism clients can accurately assess the creditworthiness of non-traditional borrowers and expand access to credit among historically underserved populations and low-risk "Invisible Prime™" consumers – who lack a traditional bureau score, but whose cash flows demonstrate underlying financial strength and ability to repay.
    • Precisely identify likelihood of overdraft or default. The new CashScore delivers a holistic understanding of each consumer's current ability to repay, enabling clients to detect subtle changes in a consumer's finances that could signal impending financial distress and more accurately predict the likelihood of overdraft or default.
    • Reduce risk from first-party fraud. Prism's CashScore helps clients detect signals and patterns in transaction data that are highly predictive of first-party fraud, which is typically difficult to identify.
    • Detect hidden financial obligations. The CashScore can surface non-obvious financial obligations—like BNPL, payday and title loans—that are critical to understanding a consumer's leverage and debt-to-income ratio but which don't show up in traditional credit bureau data.
    • Quickly react to changes in existing portfolios. The new CashScore provides a leading indicator that helps companies more quickly detect—and proactively respond to—changes in a consumer's income or ability to repay. Clients can use the CashScore in tandem with Prism's Insights product to detect changes in income, savings, and spending that are indicative of risk well before those changes are reflected on a consumer's credit report.

The new CashScore is part of a larger suite of Prism Data products that provide the infrastructure clients need to benefit from open banking. These include:

  • Categories, which enables clients to categorize consumer bank account transactions into more than 30 categories, including BNPL and rent;
  • Insights, which enables clients to take categorized bank account transactions and distill them into more than 15,000 different types of consumer financial insights, including BNPL, title and payday loans); and
  • Income, which can be used to verify income and help clients understand recent income trends vs. long-term trends.

Clients can use the CashScore off the shelf or, for a more customized solution, in combination with Categories, Insights and Income. Clients can also use Prism's products in combination with traditional credit bureau data and their own proprietary models, enabling them to lend with much greater confidence and much less unexpected risk.
-
Prism's CashScore enables regulated financial institutions to make credit more accessible and inclusive without sacrificing transparency or fairness. Prism has purpose-built its products to comply with the FCRA, fair lending and all other applicable laws and regulations. Similar to traditional credit scores, the CashScore rank-orders a consumer's risk of default, returning not only a score but a list of explainable Reason Codes for potential use in clients' Adverse Action Notices.

The early model underlying the CashScore was developed by Prism's sister company Petal, which pioneered the use of cash flow underwriting in consumer credit. Last year, Petal spun Prism Data into a standalone company focused on the B2B market.

# # #

About Prism Data:
Prism Data provides essential open banking infrastructure powering the next generation of credit scoring.

Prism's market-leading suite of products use cash flow underwriting to enable financial institutions, fintechs and other companies to derive powerful new insights from consumer-permissioned open banking data. Prism clients can use those insights to serve new customers, create new products and better manage credit risk.

Media Contact

Matt Graves, Petal, 1 4152903503, [email protected]

SOURCE Prism Data

Modal title

Prism Data logo
Prism Data logo
Prism Data logo

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.