Bloom Credit’s Strategic Alliance with Taktile
Bloom Credit, a pioneer in providing an API platform meant to modernize access, reporting, and the expansion of credit data, has formed an exciting partnership with Taktile, a next-generation risk decision platform. This collaboration is set to empower Taktile's clientele, including numerous fintech companies, banks, and credit unions, by offering them integrated and instantaneous access to Bloom Credit’s innovative platform. This means a more efficient, accurate flow of data from the major credit bureaus, enabling faster credit decision-making processes.
The Importance of Speed in Credit Decisioning
In today’s competitive landscape of lending, speed is of the essence. When a business or retail customer submits a loan request, how quickly a lender can respond plays a crucial role in the customer’s choice. According to insights drawn from Equifax, an impressive three out of four credit professionals assert that enhancing the speed of credit decisions is seen as either important or absolutely critical in adapting to the evolving demands of the market.
Seamless Integration for Enhanced Decision Making
Taktile customers are now enjoying the benefits of immediate access to real-time credit data and sophisticated analytics through a smooth integration with the Bloom Credit API. This integration allows teams to automate credit decisions much more swiftly, utilizing standardized data in a user-friendly, low-code environment. The result is a smoother implementation process that can enhance overall operational efficiency.
Insights from Industry Leaders
“We are thrilled to partner with Taktile as we see more lenders turning to them for their advanced credit decision-making capabilities,” expressed Christian Widhalm, CEO of Bloom Credit. “Both Bloom and Taktile share a common vision of delivering swift and accurate data, thereby helping customers grow their businesses while minimizing risks and enabling efficient market entry.”
Furthermore, this partnership introduces a new standard of rapid and precise data access within the digital lending sector, projected to reach an impressive $72 billion globally in the coming years, as reported by Allied Research.
Maik Taro Wehmeyer, CEO and Co-Founder of Taktile, shared his enthusiasm stating, “This collaboration with Bloom Credit is designed to empower our clients to accelerate their credit decision-making processes. By integrating Bloom Credit’s real-time analytics and data, we enable risk and credit teams to innovate quickly, manage risks effectively, and ultimately offer improved financial products to their users without having to depend heavily on technical assistance.”
Recent Innovations from Bloom Credit
This strategic partnership follows closely on the heels of Bloom Credit’s recent launch of Bloom+. This innovative, white-labeled, no-code API allows financial institutions to afford customers the ability to report alternative credit scoring data directly from their primary checking accounts to credit bureaus—an initiative aimed at enhancing the credit profiles of consumers.
About Bloom Credit
Bloom Credit is revolutionizing the credit data ecosystem, focusing on enhancing real-time credit reporting and improving accuracy through alternative, consumer-permissioned data. The company strives to empower its clients to introduce and develop new credit products rapidly, laying the groundwork for vital applications that can positively impact consumers' creditworthiness. As a proud member of the American Fintech Council, Bloom Credit is committed to fostering a more inclusive and transparent financial system.
About Taktile
Taktile stands as a cutting-edge risk decision platform enabling experts to effortlessly create, monitor, and assess automated decisions throughout the customer journey. By harnessing the power of AI and data analytics, Taktile assists fintech companies and financial institutions, such as Branch International and Novo, in making informed, swift risk decisions. With headquarters in New York and additional offices in London and Berlin, Taktile continues to set new benchmarks in the financial tech space.
Frequently Asked Questions
What is the main goal of the Bloom Credit and Taktile partnership?
The main objective is to provide Taktile's customers with real-time access to credit data and analytics, enhancing their ability to make faster and more accurate credit decisions.
How does this partnership benefit financial institutions?
Financial institutions can benefit from improved decision-making speed, access to accurate data, and a streamlined integration process that requires less technical support.
What recent innovation has Bloom Credit introduced?
Bloom Credit recently launched Bloom+, a no-code API that enables the reporting of alternative credit data to credit bureaus, helping consumers build their credit profiles.
Who are some of Taktile's clients?
Taktile’s clients include various fintech companies and institutions, such as Branch International and Novo, that strive for innovation in financial solutions.
What is the projected growth of the digital lending market?
The digital lending industry is anticipated to grow significantly, reaching nearly $72 billion globally by a projected future date.
