Next-gen loan origination platform to offer end-to-end open banking underwriting insights as part of its highly-customizable system
CHICAGO and NEW YORK, June 25, 2024 /PRNewswire-PRWeb/ -- EDGE, a leading provider of income verification and cash flow analytics is excited to announce a new partnership with Fuse, an advanced loan origination system with a focus on automated decisioning and customization via no-code tools.
The partnership will seamlessly integrate EDGE's proprietary cash flow analytics and risk analysis into Fuse's next-generation loan origination software.
"We're thrilled that Fuse customers will now be able to access EDGE's proprietary cash flow analytics directly on the platform," said Brian Reshefsky, CEO of EDGE. "This is a huge leap forward in removing friction from the decisioning process and an ideal showcase for the power of open banking."
The Fuse Loan Origination System takes full advantage of today's advanced technology to provide users with a simple, end-to-end system with robust customization capabilities. Beginning with code-free tools that automate decisioning, Fuse features more than 100 pre-built integrations for easy connection to all the key providers in the lending ecosystem, a streamlined agent portal that reduces training and switching time, along with advanced track and trace for all data that flows through the platform.
"Fuse delivers a modernized workflow that helps banks and credit unions move away from inefficient legacy systems," said Andres Klaric, Co-CEO of Fuse. "Integrating EDGE and the proven value of their insights simply offers lenders more reasons to switch to Fuse."
EDGE's integration with Fuse will enable lenders on the platform to utilize robust cashflow analytics in order to look beyond traditional credit scores and decision on applicants' ability to pay based on cashflow data. As part of the integration, Fuse clients can enjoy industry-leading bank connection rates with smart routing across EDGE's network of data aggregation partners as well as decision-ready credit risk insights.
The consumer credit risk attributes and scores that EDGE produces leverage over two decades of experience in consumer lending along with the industry's largest data lake of open banking data married to loan outcomes. Lenders provide loan outcomes to EDGE as a consumer reporting agency, and EDGE in turn issues consumer reports based on cashflow data that lenders can expressly utilize for approvals and adverse action alike.
"Fuse's technology exists to streamline the lending process for banks and credit unions," remarked Klaric, "EDGE's analytics make it possible to take that optimization to the next level with real-time cashflow insights in their risk decisions."
"Our partnership with Fuse brings EDGE's powerful insights to more lenders who embrace progressive risk assessment methods," said Reshefsky, "That's a win for everyone in the consumer credit ecosystem, from lenders to the consumers we ultimately serve."
About Fuse:
Fuse is a next-gen loan origination system (LOS) that simplifies lending for financial institutions by providing the ability to customize financial rules, utilizing a low-code API builder and personalized agent portal. Dedicated to simplifying and modernizing the LOS market, Fuse delivers top-tier, customer-focused technology solutions for financial institutions. By streamlining the lending process, Fuse facilitates reliable interactions between lenders and borrowers, providing a secure and scalable platform for banks, financial institutions, credit unions, and fintechs.
About EDGE:
EDGE is a consumer reporting agency based on open banking data from an optimized portfolio of bank data aggregators and risk analytics built by lenders for lenders for
actionable insights into consumer creditworthiness. The platform was launched by the lenders, entrepreneurs, and data scientists who pioneered data-driven digital lending for Everyday Americans two decades ago. EDGE delivers risk insights for use cases across the credit account lifecycle that have been performance-tested on real world lending decisions on over four billion bank transactions linked to over half a billion dollars in loans since 2017.
Media Contact
Media Relations, EDGE, 1 312-205-8996, [email protected]
SOURCE EDGE
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