Nova Credit And SoFi Expand Multi-Year Relationship With Cash Flow Underwriting Capabilities

Nova Credit's consumer-permissioned data and analytics solution, Cash Atlas, will be leveraged by SoFi to bolster loan underwriting

Nova Credit, a leading credit infrastructure and analytics company, today announced an expansion of its multi-year relationship with SoFi, the one-stop shop for digital financial services. This expansion enables SoFi to access consumer-permissioned bank data and cash flow analytics through Nova Credit's Cash Atlas™ solution, giving SoFi the ability to better serve its members.

While traditional credit reporting helps lenders assess an individual's history of repayment, cash flow data provides a more real-time and granular view of a consumer's financial health, allowing lenders to generate a more complete risk profile for consumers across the credit spectrum.

SoFi, which has used Nova Credit's services since 2020, intends to implement Cash Atlas™ in its loan underwriting to assess credit risk, improve credit eligibility, and enhance its members' experience.