SMB insights for better bank lending
It was a pleasure to meet Nick Chandi, CEO and Co-Founder Forward AI and Jag Barpagga, CIO and CTO of Forward AI at Money 20/20 this year.
Both long time colleagues and serial entrepreneurs based in Canada and well versed with account practices and systems around the world.
Their latest venture is geared towards helping banks make better, quicker, and more precise lending decisions by tapping into a powerful universal data stream designed for lenders and fintechs serving small businesses.
To learn more about their offering and benefits, please click on the video below:
The Foward AI API easily integrates with all major accounting, banking, commerce, and payments software platforms and extracts, cleans, and presents data, reducing loan decisioning time significantly using predetermined lending criteria.
Lenders can use a borrower’s DSCR, days cash on hand, client history, or predicted cash flow data, making it easy to use and reducing risk in lending decisions.
To me this isn't a brand new concepts, we seen some services launches that most likely are similar in their offering in the USA. Having said that they do integrate with a very large set of accounting software solutions which might give them an advantage in acquiring and keeping customers.
I wish the team great success in their new venture. It is always exciting to speak with early-stage entrepreneurs.
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