As CFPB Announces Proposed Rulemaking for U.S. Open Banking Framework, Envestnet | Yodlee Expands Access to Credit with its Newest Technology Solution, Credit Accelerator
BERWYN, Pa., Oct. 20, 2023 /PRNewswire/ -- Envestnet | Yodlee is proud to unveil Credit Accelerator, a lending data solution that promotes financial inclusion by harnessing alternative data to expand access to credit for individuals who may have limited or no traditional credit history.
- This new framework provides opportunities for businesses and consumers to realize new opportunities in credit and lending.
- The macro-economic instability brought about by recent global crises has made reliance on traditional credit scores a riskier proposition than ever before.
- An overwhelming majority of lenders now recognize that conventional credit data and scores often fail to provide a comprehensive assessment of a consumer's creditworthiness.
- The introduction of Credit Accelerator reinforces the company's commitment to transforming the lending landscape.