Socure, a leading provider of artificial intelligence for digital identity verification, and Nova Credit, a global credit infrastructure and analytics company, have announced an integration partnership to embed Nova Credit’s FCRA-compliant cash flow underwriting solution, Cash Atlas™, into Socure’s RiskOS™ platform.
This collaboration aims to enable lenders to expand credit access to qualified borrowers who were previously overlooked by traditional models, without increasing fraud or risk. By combining Nova Credit’s real-time cash flow insights with Socure’s identity verification and fraud prevention solutions, the integration provides a more comprehensive view of an applicant’s financial health.
Traditional credit models have historically left millions of creditworthy Americans, including recent graduates, gig workers, and immigrants, invisible to the financial system. These individuals often reliably pay rent, utilities, and other bills but lack extensive credit histories, resulting in over 25 million Americans being unscored and facing barriers to fair credit access.
Ravi Sandepudi, Head of Platform Product at Socure, stated that RiskOS offers lenders a complete view of individuals by integrating various data service providers, including over 85 pre-integrated partners like Nova Credit. He emphasized that this partnership empowers financial institutions to approve deserving borrowers while maintaining high standards of risk management.
Chris Hansen, GM, Strategic Alliances and New Business at Nova Credit, commented on the future of responsible lending, highlighting the importance of understanding an applicant’s complete financial picture beyond just their credit history. He noted that through Socure’s infrastructure, lenders can access cash flow insights to identify creditworthy consumers missed by traditional models, marking a shift towards more inclusive financial services.
The integration is designed to deliver immediate value to Socure’s enterprise clients by expanding their addressable market without compromising underwriting quality. Lenders can now identify qualified borrowers within existing applicant pools who might have been declined under previous models, supporting both revenue growth and financial inclusion.
Socure’s platform utilizes AI and machine learning for digital identity verification, compliance, and fraud prevention across more than 190 countries. Its RiskOS™ platform, enhanced by the acquisition of Effectiv, provides end-to-end decisioning and orchestration for identity fraud and payment risk management, integrating transaction monitoring, credit underwriting, and know-your-business (KYB) solutions. Socure serves over 3,000 customers, including major banks, HR payroll providers, sportsbook operators, public sector organizations, and fintechs.
Nova Credit functions as a Credit Reporting Agency (CRA) and provides credit infrastructure and analytics that leverage alternative credit data. The company’s unique data infrastructure, compliance framework, and credit expertise help lenders address gaps in traditional credit analytics. Besides Cash Atlas™, Nova Credit also offers Income Navigator for income verification and Credit Passport® for new-to-country consumers.
