Pave.dev and Methodfi Collaborate to Offer Real-Time Financial Insights for Lenders

Apr 9, 2024

We’re super excited to announce our partnership with Method Financial, an innovator in real-time liability connectivity. This collaboration connects Pave’s analytics solution with Method’s cutting-edge real-time liability data, offering an unparalleled level of insight into borrowers’ financial health.

Streamlining Lender Decisions with Real-Time Data Access

The traditional process of assessing borrower finances has been slow and often unreliable, leading to challenges in decision-making and credit access for nonprime borrowers, including those who make over $100,000 annually. The Pave and Method partnership addresses these issues by providing lenders with real-time, comprehensive financial data.

Ema Rouf, President of Pave.dev, states, “This partnership redefines industry standards in financial transparency and decision-making. Integrating Method’s real-time technology with our cashflow-driven analytics enables lenders to make quicker, more informed decisions.”

Get a More Comprehensive View of Borrower Profiles

Pave.dev’s APIs merge financial data from diverse sources, including bank transactions, loan performance data, and credit reports, to predict a borrower’s likelihood and ability to pay.

Method’s APIs retrieve data in real-time directly from the sources of record (FIs) across all liability types. Data points include outstanding balances, payoff amounts and due dates, interest rates, and loan types.

Below is a breakdown of the differences in datasets:

The integration of Pave and Method provides the following key benefits:

Instant Verification: Quick and reliable verification with just a user’s phone number, accelerating the lending process
Real-Time Financial Data: Access to up-to-date liability data allowing for more accurate assessments of financial stability and creditworthiness
Advanced Analytics: Pave’s analytics leverage unified data to predict repayment behavior and inform lending decisions, driving lift in credit risk models

By unifying bank transactions with Method data, lenders can answer questions and inform use cases like:

This approach facilitates more efficient financial management and ensures that lenders have access to the most current data regarding liabilities.

Jose Bethancourt, CEO of Methodfi, adds, “Our collaboration with Pave.dev gives lenders access to enriched liability data on the one hand, and predictive analytics on the other, leading to a more dynamic, responsive, lending process.”

The Future of Lending: Instant, Informed, and Inclusive

This partnership promises a more efficient and equitable lending process, benefiting lenders and borrowers with faster and more transparent credit assessments. Read more about our Method integration here.