We’re thrilled to announce our partnership with Taktile, a next-generation decision platform with extensive experience in consumer and SMB credit underwriting. This collaboration seamlessly integrates Pave.dev’s cashflow intelligence with Taktile’s decision engine, empowering lenders to make automated and optimized financial decisions while significantly reducing manual processing work— a major pain point for small business lenders.
Bridging the Gap for Underserved Small Businesses
A particular area of focus for the Pave.dev and Taktile partnership is addressing the needs of underserved small businesses. Our collaboration aims to bridge the gap for the vastly underserved SMB sector by providing increased access to advanced cashflow analytics and the tools to effectively incorporate them into credit models.
This quarter, Pave launched a new suite of cashflow products allowing SMB lenders to validate cashflows, underwrite, and assign credit limits using real-time cashflow analytics.
As Ema Rouf, co-founder of Pave.dev, explains, “Taktile’s innovative solutions and focus areas align perfectly with our mission to provide superior cashflow analytics for business lenders.”
Leveraging Combined Strengths for Enhanced Underwriting and Monitoring
Maik Taro Wehmeyer, Co-Founder & CEO at Taktile, shares his enthusiasm about the collaboration: “Pave.dev’s cashflow analytics combined with Taktile’s credit decisioning capabilities create a powerful synergy. Together, we can provide lenders with the tools they need to reduce manual processing work and increase their decision performance.”
From the beginning, Taktile has supported the credit underwriting use case, establishing itself as a leader in the space. Taktile emphasizes making it as easy as possible to automate & optimize decision workflows and credit policies in a highly robust and low-latency manner.
Pave.dev’s Cashflow-driven Attributes and Scores are directly accessed within Taktile’s decision engine to enable non-technical teams to build complex decision workflows. From this collaboration, lenders get comprehensive cashflow analytics enabling more inclusive and efficient risk decisions.
The collaboration between Pave.dev and Taktile offers several key benefits:
- Reduced Manual Processing: With its extensive experience in credit underwriting, Taktile allows lenders to streamline workflows in a highly robust and low-latency manner.
- Advanced Underwriting Capabilities: By integrating Pave.dev’s cashflow analytics, lenders can better assess the financial health of businesses, leading to more accurate credit underwriting and risk management.
- Simple Yet Powerful Workflows: Taktile’s decision engine enables non-technical teams to create, execute, and refine automated decisions without engineering support, empowering them to own underwriting operations end-to-end.
- Seamless Data Integration: The partnership facilitates the seamless integration of various data sources, including bank transactions, credit reports, and more, into a unified analytical platform.
Maik highlights the significance of this integration: “Our goal is to simplify and enhance the financial decision-making process for lenders. By partnering with Pave.dev, we can offer a more comprehensive solution that meets the evolving needs of the SMB sector.”
Leveraging Pave’s Cashflow-driven Attributes and Scores
Pave.dev’s Cashflow-driven Attributes and Scores, which assess the likelihood of a borrower repaying a loan based on their cashflow data, can be easily integrated into Taktile’s decision engine to enhance risk assessment capabilities.
Here’s how it works:
- Data Ingestion: Pave.dev ingests and processes bank transactions and credit reports uploaded by Taktile or the lender.
- Near Real-Time Analytics Generation: Pave generates Cashflow-Driven Attributes and Scores in near real-time using this data.
- Integration: Attributes and scores are made available via Taktile’s decision engine.
- Decisioning: Lenders leverage Pave’s Attributes and Scores within Taktile’s intuitive interface.
By incorporating real-time Cashflow Analytics into their decisioning processes via the Taktile/Pave integration, lenders can make more accurate credit decisions, all while freeing up resources and making operations more efficient.
Looking Ahead
Taktile and Pave both service consumer and business lenders, but are honing in on SMB lenders in the context of this partnership. Addressing the needs of underserved businesses is a huge opportunity that both parties are eager to address with the synergies of the partnership.
In partnership, Pave and Taktile will work with innovative SMB lenders and financial institutions looking to adopt cashflow analytics to increase access to underserved businesses.
As Ema Rouf notes, “Our strategy will focus on SMB lenders who are eager to adopt advanced analytics for better financial insights. This collaboration with Taktile will help us deliver even greater value to our customers.”
About Pave.dev
Pave.dev’s AI-powered Cashflow Analytics and Scores enable consumer and SMB lenders to drive lift in credit risk models. Learn more at https://pave.dev.
About Taktile
Taktile is a next-generation risk decision platform that empowers risk experts without the support from engineering teams to build, monitor, and experiment with automated decisions across the entire customer journey. Through advanced data analytics and machine learning, Taktile helps fintech companies and financial institutions make smarter, faster risk decisions and deliver innovative financial solutions to their customers. Learn more at www.taktile.com.
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