How COVID Has Impacted the Need for Bank Data

Due to the COVID-19 pandemic, people now pay differently.

Because of massive changes in consumer behavior, alternatives to traditional credit bureau scores are essential to the underwriting process.

Bank data is more reactive to sudden economic changes, more demonstrative of real affordability, more revealing of individuals income and spending as a whole, more inclusive of profitable thin-file consumers, and more predictive of future payment behavior. Expertly-designed custom or generic modeling allows for automated and real-time decisioning to yield superior results.

 

RIBBIT provides predictive analytics with non-credentialed and credentialed bank intelligence to improve loan and payment performance, surpassing traditional credit solutions no matter how your customers choose to engage.

RIBBIT uses AI and adaptive learning to predict future bank behavior based on dependable and verified data through complete and modular solutions delivered through a single API connection. See our impressive suite of solutions for merchants, lenders, LTOs, financial institutions and fintechs online at RIBBIT.ai.

BankVERIFY+ │ BankLOGIN+ │ ACHProcessing │ BankINSIGHTS

RIBBIT is for merchants, lead purchasers, lead generators, recurring payments, subscription services, large financial institutions, small banks, rewards programs, loyalty cards, online stores, lease-to-own sellers, risk managers, lendtechs, fintechs, health care providers, insurtech, business lenders, sub-prime lenders, verification and validation servicers, regulatory bodies, credit bureaus, fraud prevention, and economic and financial studies.

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Former FactorTrust Founder/CEO, Greg Rable, Joins RIBBIT Board of Directors

Former FactorTrust Founder/CEO, Greg Rable, Joins RIBBIT Board of Directors

OXFORD, Ohio, April 12, 2022 /PRNewswire/ — Today, RIBBIT Inc. announced the appointment of Greg Rable to the RIBBIT Board of Directors. As the former Founder/CEO of FactorTrust, since acquired by TransUnion in 2017, Greg brings over 25 years of management and strategy experience, combined with a history of building successful fintech and alternative data businesses for the consumer finance space. In his role, Mr. Rable is helping guide the RIBBIT leadership team and promote the growth of bank behavior data as a powerful and necessary predictive data solution.

Getting Real with Financial Inclusion

Getting Real with Financial Inclusion

Financial inclusion matters not only because it promotes growth, but because it helps ensure prosperity ~ Sri Mulyani Indrawati

How arbitrary are the words ‘financial inclusion’; who’s in, who’s out and why is it so unfair? If a consumer is ‘in,’ there are financial opportunities for building a better life. If a person is ‘out,’ good luck with climbing out of a deep money pit. Today’s financial institutions think they are building a more inclusive process. However, many are still using information reflective of historical bias so if it didn’t work then, it ‘ain’t gonna work now’.

Why Interpretation of Data Matters

Why Interpretation of Data Matters

When a man gives you a rose, what you see may not be what he intends~ Patrick Rothfuss

Assessing information is the foundation of most of life’s important decisions. Mistakes are made when the data is unavailable, unclear, inaccurate, insufficient, immaterial, or unjust. How many people have suffered throughout history by poor decision-making? Like it or not, today’s world is data driven, hopefully an information mecca for making insightful, educated, proven and unbiased decisions. However, data is just that, information on a page, it becomes meaningful only when it is wisely analyzed and interpreted.