New York-based credit score decisioning firm Stratyfy solid a strategic partnership with mortgage intelligence system Parlay Finance.
Collectively the 2 corporations will assist banks and different monetary establishments present a extra seamless onboarding and underwriting expertise for his or her small enterprise debtors.
Stratyfy received Better of Present in its most up-to-date Finovate look at FinovateFall 2022. Parlay demonstrated its know-how at FinovateSpring 2024.
Credit score decisioning specialist Stratyfy and mortgage intelligence system Parlay Finance introduced a strategic partnership this week. The alliance will provide frictionless onboarding and underwriting experiences that allow extra banks to serve a bigger variety of certified small enterprise debtors. The mixture of Stratyfy and Parlay’s know-how can even give small companies actionable insights they want with a purpose to extra simply safe funding.
“Our know-how is designed to assist lenders make higher credit score selections by uncovering alerts typically missed by conventional approaches,” Stratyfy CEO Laura Kornhauser mentioned. “Combining that with Parlay’s power in surfacing alternatives and accelerating small companies by way of the mortgage utility course of is a strong match.”
Stratyfy supplies AI-powered options for credit score, compliance, and fraud groups to assist them modernize lending. A specialist in resolution optimization for monetary establishments, Stratyfy helps lenders entry new markets, scale back prices, and encourage progress with much less threat. Parlay’s AI-powered platform streamlines digital onboarding, verification, and qualification to allow lenders to extra effectively present Small Enterprise Administration (SBA) and small enterprise loans. The corporate’s know-how integrates with mortgage origination techniques to extend each quantity and profitability.
Mixed, the 2 options present an underwriting resolution that automates workflows, boosts efficiency, and enhances risk-adjusted returns. The partnership has already yielded outcomes with groups from Stratyfy and Parlay collaborating on a joint shopper engagement: a group lender searching for to extend success charges for entrepreneurs who’ve been traditionally underbanked.
“Parlay empowers lenders to digitally onboard and confirm small enterprise data whereas offering candidates with personalised monetary insights,” Parlay Finance CEO Alex McLeod mentioned. “Teaming up with Stratyfy extends that worth by way of the complete credit score lifecycle, serving to lenders match with and assist the companies they’re greatest suited to serve.”
Headquartered in Alexandria, Virginia, Parlay Finance demonstrated its know-how at FinovateSpring 2024 in San Francisco. The corporate confirmed how its embedded fintech software program, Parlay Protocol, helps monetary establishments generate extra high-quality loans and supplies technical help to small enterprise candidates. Lenders working with Parlay have benefited from a 64% enhance in authorized loans and an 87% discount in handbook, underwriting workloads. Most lately, Parlay introduced a partnership with Mastercard and JAM FINTOP to broaden its providers nationwide.
New York-based Stratyfy received Better of Present in its most up-to-date Finovate look at FinovateFall 2022. On the convention, the corporate demonstrated its UnBias know-how that permits monetary establishments and fintechs to find and undo bias in complicated monetary selections together with throughout the underwriting course of.
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