The EDGE Blog

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February 21, 2024

Playing Both Sides of the Field: Combining Orthogonal Datasets

Super Bowl LVIII is on the books. Whether you were among the 123 million like me who watched the game or the other half of the country who didn’t, you’re probably familiar with the adage “defense wins championships.” Seeing the Chiefs and 49ers go back and forth got me thinking about the legacy consumer risk paradigm where you’re only assessed on your equivalent of defense – how successfully you’ve kept creditors at bay, as reported on traditional credit reports based on historical tradelines.

Credit risk
Income verification
Open banking
February 14, 2024

Vergent LMS Partners with EDGE to Deliver Open Banking Credit Risk Insights to Lenders

Leading fintech loan management platform adds real-time cashflow underwriting analytics to enhance customers' underwriting and credit risk decisions

Business announcements
Decisioning & automation
January 11, 2024

Making your data work for you: Open banking for credit unions

For much of the past decade, open banking has been a buzzword tossed around by opinion leaders, pundits, and a few of my smarter friends. I'll admit that I didn't have more than a third-grader's understanding of open banking until I met the EDGE team and started ideating with them on what we could build and bring to credit unions.

Open banking
Financial inclusion
Income verification
Credit unions
December 12, 2023

Open Banking Unleashed – More Connections, Better Data, Higher Revenue

Nearly every checking and savings account in the U.S. can be accessed through a bank data aggregator. An entire ecosystem of open banking fintech has emerged around this data – from financial health dashboards to payments authentication to credit risk assessment.

Open banking
Financial inclusion
Decisioning & automation
November 29, 2023

Solving the Thin File/No File Dilemma

Leading credit union fintech news outlet Finopotamus covered EDGE's recent entry into the space and unique value proposition in leveraging credit union's own data to improve member care and advance financial inclusion with cashflow underwriting.

Credit unions
Financial inclusion
Media coverage
Open banking
November 28, 2023

EDGE announces enhanced identity verification and fraud prevention capabilities

Cash flow analytics platform EDGE has enhanced its fraud and identity offering with an initial release of risk attributes that complement its existing identity verification capabilities in the EdgeCheck product.

Fraud & identity
Product releases
October 30, 2023

Revolutionizing Retail Lending: The Power of Automation

Today, we're diving into the world of retail lending and how automation is transforming the game. We'll explore the incredible advantages of automation and how it's paving the way for more efficient, customer-friendly, and data-driven lending processes.

Decisioning & automation
September 25, 2023

Improving Loan Evaluation with Real-Time Income Detection

In the world of lending, making sound decisions is paramount. A borrower's income is a critical factor in assessing their creditworthiness and ability to repay a loan. Lenders require effective tools to evaluate this key aspect of every loan application. Enter EdgeIncome, a solution that empowers lenders to make informed decisions while streamlining their operations.

Credit risk
Decisioning & automation
Income verification
August 24, 2023

Akoya and EDGE partner to drive greater transparency and financial inclusion in consumer lending

Akoya will deliver consumer-permissioned bank account data to EDGE and its consumer lending customers for better informed underwriting decisions.

Business announcements
Financial inclusion
Open banking
August 8, 2023

EDGE joins panel at Envestnet | Yodlee's Engage 2023 conference

EDGE´s Vice President of Strategy joined other leaders in fintech and credit risk analytics to speak on a panel on "The Power of Alternative Data in Lending" at Envestnet | Yodlee's inaugural Engage conference hosted in Scottsdale, Arizona.

Credit risk
Events
Financial inclusion
July 26, 2023

Looking at credit scores only tells part of the story – cashflow data may tell another part

The Consumer Financial Protection Bureau conducted an analysis based on its Making Ends Meet survey suggesting that cashflow data can inform better credit underwriting decisions.

Credit risk
Industry news
Open banking
July 26, 2023

Efficient data analysis and streamlined credit decisions with EdgeRefine

EDGE is thrilled to announce the release of our new product, EdgeRefine, a cutting-edge technology product designed to revolutionize the way you analyze bank data and streamline consumer credit decisions.

Credit risk
Decisioning & automation
Product releases
July 20, 2023

EDGE announces expanded sales leadership and launch with credit unions

EDGE, a consumer reporting agency and leading cash flow analytics platform, has appointed Craig Peterson as Vice President of Sales for Credit Unions. Peterson will lead EDGE’s offering for credit unions with responsibilities encompassing all new market development and related platform, channel, and product partnerships.

Business announcements
Credit unions
July 5, 2023

Unlocking Cash Flow Insights: The Power of a Banking Activity Credit Risk Score

Bank transaction-based credit risk underwriting revolutionizes lending by providing valuable insights into borrowers' repayment abilities, and EdgeScore excels as a leading predictive risk score in accurately assessing risk across the credit spectrum.

Credit risk
Open banking
June 14, 2023

Save Time This Summer – Faster Customer Processing with Edge

Verification of income has traditionally been one of the most expensive and time-consuming steps in a loan application. With the innovation of instant bank verification (IBV), proof of income can be achieved in near real-time along with a host of risk insights relevant for credit decisions.

Decisioning & automation
Income verification
Open banking
May 31, 2023

EDGE affirms commitment to financial inclusion as a Consumer Reporting Agency

Bank transaction analytics platform EDGE announced today that it is officially a Consumer Reporting Agency (CRA). As a CRA, EDGE can deliver income verification and credit risk analytics based on consumer-permissioned data while providing all consumer safeguards required by the Fair Credit Reporting Act (FCRA).

Business announcements
Credit risk
Financial inclusion
Open banking
May 17, 2023

NinjaEdge announces rebranding, including name change to Edge

NinjaEdge has unveiled a new name, new logo, and new products as part of an extensive rebranding initiative

Business announcements
February 2, 2023

NinjaEdge adds Head of Customer Success to lead new customer onboarding and ongoing support

Mani Venkat brings deep experience in customer engagement best practices, banking and financial services, and consumer credit risk analytics.

Business announcements
January 25, 2023

BNPL – Borrowing No Different

Edge, using its industry-leading data lake, has gained valuable insights into the influence of Buy Now Pay Later (BNPL) on various credit types. Proprietary research reveals that borrowers engage in familiar patterns such as loan stacking, increased borrowing during financial stress, and heightened default risk due to additional obligations.

Credit risk
Buy now, pay later
Open banking
December 15, 2022

BNPL Liabilities – Hidden in Plain Sight

Buy Now, Pay Later plans are frequently in the headlines for opportunities and risks alike. BNPL obligations pose a challenge for other lenders because they are largely unreported to credit bureaus. However, these liabilities can be reliably found in bank transaction data – an essential step in decisioning on a complete picture of consumer risk.

Credit risk
Buy now, pay later
Open banking
December 12, 2022

Proprietary insights from NinjaEdge highlight risks of BNPL obligations not visible to other lenders

At Opal Group's summit, Mark Friedgan, CEO of NinjaHoldings, showcased NinjaEdge's data-driven analysis of 2.5 billion bank transactions, addressing the risks of "hidden liabilities" like BNPL loans and advocating for more profitable underwriting solutions that encompass a consumer's complete financial picture.

Credit risk
Events
Open banking
Buy now, pay later
October 4, 2022

NinjaEdge releases enhanced risk score and expanded features to address effects of inflation

“Already a critical tool in many lenders’ decision-making, our updated score is even more predictive of consumer underwriting risk. We have significantly improved our ability to score applicants with less data or lacking consistent income sources.”

Open banking
Product releases
Credit risk
September 12, 2022

NinjaHoldings CEO delivers keynote address for LEND360 conference

Mark Friedgan – CEO of NinjaHoldings, the parent company of NinjaEdge – kicked off the LEND360 conference in Chicago with timely perspective on consumer lending against the backdrop of unprecedented inflation and the potential to grow profitability through the economy’s ups and downs using NinjaEdge analytics.

Events
Open banking
Credit risk
September 11, 2022

Cash Flow Underwriting – What’s Missing from Your Bureau

Traditional credit scores are inadequate for assessing risk in nearly half of the U.S., while analyzing cash flow behaviors in checking and savings accounts provides a more comprehensive financial picture, leading to actionable insights that enhance underwriting decisions.

Open banking
Credit risk
June 07, 2022

NinjaHoldings CEO delivers keynote address for Leaders in Lending conference

Mark Friedgan, CEO of the parent company of NinjaEdge, spoke on incubating the cashflow underwriting IP that would eventually become the NinjaEdge B2B analytics offering.

Credit risk
Decisioning & automation
Events
Open banking
June 02, 2022

NinjaEdge and Tekambi announce partnership to optimize top-of-funnel risk assessment for consumer lending

NinjaEdge, the innovator in alternative data analytics for consumer risk assessment, announced today a strategic partnership with leading consumer lending decisioning software provider Tekambi. NinjaEdge is integrating its proprietary bank transaction analytics software-as-a-service with Tekambi’s platform which optimizes lead purchasing, underwriting, and buying for lenders.

Decisioning & automation
Business announcements
April 27, 2022

NinjaEdge introduces complimentary solution for verifying connectivity ahead of purchasing bank transaction data

NinjaEdge, the only bank transaction analytics platform built by lenders for lenders, released today its NinjaEcho solution that provides clients with no-cost confidence that a healthy connection can be established to a consumer-provided checking or savings account.

Product releases
Open banking
May 17, 2022

Liberty Rent integrates NinjaEdge for enhanced risk analytics

NinjaEdge announced today the successful integration of its proprietary bank data analytics service into Liberty Rent’s platform to convert more applicants into residents for landlords. Founded in 2014, Liberty Rent is a SaaS analytics company that provides best-in-class risk analysis, payment services, and third-party claims settlement for multifamily property owners and managers. With its rent guarantee solution, Liberty Rent facilitates “no cost, no risk” acceptance of potential residents for property management companies throughout the U.S.

Credit risk
Financial inclusion
Business announcements
April 27, 2022

NinjaEdge and Infinity Software announce strategic partnership

Alternative data and risk assessment platform NinjaEdge announced today a new partnership with Infinity Software, the leading loan management software provider for alternative credit lenders in North America. The partnership will seamlessly integrate NinjaEdge’s proprietary bank data analytics service into Infinity’s ecosystem of traditional and alternative credit risk signals, decision engines, and verification providers.

Credit risk
Decisioning & automation
Business announcements
Edge Insights
Jan 16, 2023

Revolutionizing Storefront Lending: The Power of Automation

Today, we're diving into the world of storefront lending and how automation is transforming the game. We'll explore the incredible advantages of automation and how it's paving the way for more efficient, customer-friendly, and data-driven lending processes.

Edge Insights
Jan 16, 2023

Improving Loan Evaluation with Real-Time Income Detection

In the world of lending, making sound decisions is paramount. A borrower's income is a critical factor in assessing their creditworthiness and ability to repay a loan. Lenders require effective tools to evaluate this key aspect of every loan application. Enter EdgeIncome, a solution that empowers lenders to make informed decisions while streamlining their operations.

Edge Insights
Jan 16, 2023

Unleashing Cash Flow Data's Potential: The Power of a Bank Transaction-Based Credit Risk Score

Bank transaction-based credit risk underwriting revolutionizes lending by providing valuable insights into borrowers' repayment abilities, and EdgeScore excels as a leading predictive risk score in accurately assessing risk across the credit spectrum.

Edge Insights
Jan 20, 2023

Save Time This Summer – Faster Customer Processing with Edge

Verification of income has traditionally been one of the most expensive and time-consuming steps in a loan application. With the innovation of instant bank verification (IBV), proof of income can be achieved in near real-time along with a host of risk insights relevant for credit decisions.

Edge Insights
Jan 18, 2023

BNPL – Borrowing No Different

Edge, using its industry-leading data lake, has gained valuable insights into the influence of Buy Now Pay Later (BNPL) on various credit types. Proprietary research reveals that borrowers engage in familiar patterns such as loan stacking, increased borrowing during financial stress, and heightened default risk due to additional obligations.

Edge Insights
Jan 16, 2023

BNPL Liabilities – Hidden in Plain Sight

Buy Now, Pay Later plans are frequently in the headlines for opportunities and risks alike. BNPL obligations pose a challenge for other lenders because they are largely unreported to credit bureaus. However, these liabilities can be reliably found in bank transaction data – an essential step in decisioning on a complete picture of consumer risk.

Edge Insights
Jan 16, 2023

Cash Flow Underwriting – What’s Missing from Your Bureau

Traditional credit scores are inadequate for assessing risk in nearly half of the U.S., while analyzing cash flow behaviors in checking and savings accounts provides a more comprehensive financial picture, leading to actionable insights that enhance underwriting decisions.