Synchrony: Expanding access to credit without taking on additional risk using Prism Data
Synchrony uses Prism Data in their innovative underwriting process.
"Prism reliably delivers high-quality predictive insights from cash flow data, allowing us to approve significantly more good borrowers without taking on additional risk," says Max Axler, Chief Credit Officer of Synchrony.
Synchrony also invested in Prism Data in 2023, reflecting shared interest in advancing more inclusive, data-driven approaches to credit underwriting.
Why Prism’s cash flow underwriting solutions are better than alternatives
Greater Predictive Power
As a result of its proprietary data categorization, advanced attributes, and large consortium training data, Prism delivers industry-leading predictive power. Prism can prove it with a backtest or POC.
Real World Use at Scale
Prism pioneered modern cash flow underwriting and its solutions have been used extensively since 2018, including by large financial institutions and leading fintech lenders.
Larger Attribute Library
Prism offers more comprehensive cash flow attributes than peers, including thousands of trended variables covering income, expenses, savings, financial obligations (like BNPL) and proprietary behavioral features.
Integrations and Bring-Your-Own-Data
Prism is integrated with leading credit bureaus, decision engines, and Plaid, the industry’s largest consumer-permissioned data network. Prism’s platform is compatible with deposit data from any source, including “on-us” data from depository institutions.
More Training Data
Large and growing repository of 10M+ de-identified cash flow records covering the entire credit and income spectrum and many loan products, resulting in robust cash flow-based risk scores.
Unique Expertise
Prism brings a consultative approach, hands-on experience, and industry best-practices in implementing cash flow underwriting from start to finish.