January 8, 2021
To know what is right and not to do it is the worst cowardice.
In my lifetime, I have been called brash, bold, sassy, and mischievous, so I pay attention when a company, and a new one to boot, jumps out of the starting gate, bragging how they are going to transform the way a consumer’s credit worthiness is measured. Whoa, who does this RIBBIT think they are, challenging a status quo system that has been around since the 1860s when merchants shared lists of villagers who failed to pay their debts? But as Confucius says – To know what is right and not to do it is the worst cowardice.
RIBBIT is the steroid offspring of Cash Flow Solutions, a 22-year electronic payments provider, and Transaction Science, a groundbreaking predictive analytics company. Together as one, RIBBIT utilizes patent-pending bank behavior analytics to meet the demands of a rapidly changing world to accelerate financial freedom for all people with better data supporting superior outcomes.
RIBBIT’s BankINSIGHTS suite provides adaptive bank analytics for instant credit decisioning, account onboarding, and payments from a single API connection. The combined company’s products are designed to simplify financial decisioning without the need for multiple providers, including:
- Instant, predictive insights into affordability on 99% of bank accounts
- Non-credentialed and credentialed bank account onboarding and underwriting
- Proprietary, customer-driven user interface to instantly enroll any bank account
- Account verification and transactional behavior analytics
- Tokenized ACH and Same-Day ACH payment processing
In a changing market, RIBBIT’s adaptive learning methodologies more accurately predict financial outcomes in a turbulent economy. The AI-enhanced platform turns bank and payment data into decisioning intelligence for assessing risk and offering affordable financial products. RIBBIT’s proprietary network accesses billions of financial data points to present an authentic, holistic picture of a customer’s ability to afford a payment or a loan. Lenders, fintechs, and banks are leveraging the technology to evaluate applicant’s creditworthiness and ability to pay.
The unimaginable pandemic has reminded us that we must continue to move forward in our thinking lest we be left behind. It’s a time to explore the silver linings and learn from the lessons: hope rises like a Phoenix from the ashes of shattered dreams ~ S.A.Sachs.
Welcome RIBBIT, perhaps you are one of the silver linings.
Stay tuned . . .
Never be afraid to fail. Failure is only a stepping stone to improvement ~ Tony Jaa
I remember my young daughter’s disheartening basketball coach yelling at the team “don’t shoot the ball unless you are going to make it.” Naturally, the team was afraid to shoot the ball so they never scored enough points to win. An enlightened coach would have said “shoot the ball until you make it.” Giving the girls permission to miss the basket without fear of blame would have released their potential. This same philosophy in the workplace is liberating: push yourself, learn from mistakes, and use your knowledge to improve. Slam dunk!
Tomorrow doesn’t matter, for I have lived today ~ Horace
A young, grey cat with the greenest eyes wandered into our yard last week and made serious eye contact appearing to ask for my assistance. Not particularly a cat lover, I hoped she would go away, but after hours of continual pacing and meowing, I poured some milk into a bowl. Needless to say, Greyling knew she had found a friend and yes, I did name her.
Success is a ladder than cannot be climbed with your hands in your pockets ~ American proverb
In a country often filled with broken promises and lip service, it’s refreshing to look at the track record of the Electronic Payments Association (NACHA), who introduced Same Day ACH for credits 5 years ago. NACHA, the rule maker and governing body, for most financial transactions in the U.S., promised yearly enhancements to Same Day ACH including adding debits, expanding the hours to submit payments, and increasing the dollar limit for each payment. The payment’s world salutes NACHA for their honesty, transparency, commitment, and follow-thru.