Velex Score
by
Velex
Cash score for businesses to assess consumers beyond credit scores, enabling inclusive growth and reaching new markets.
About the Provider
Velex provides unique cash flow scoring solutions, similar to FICO, that helps businesses assess customers more accurately and better qualify borrowers. It goes beyond traditional credit history by considering cash flow factors, providing a more accurate and inclusive assessment.
Solutions
Income Verification
About the Integration
Trained on over 1.4B transactions and factoring in historical and recent black swan events, such as the COVID-19 pandemic and inflation, Velex helps businesses manage risk and qualify borrowers with greater precision. This automated solution delivers the data and insights businesses need for better decision-making.
Velex offers a user spending and cash flow-based score that serves as a supplement predictor of repayment ability to traditional FICO scores. It's cheaper than FICO, since fetching income data costs less than fetching credit scores and credit reports, and combining both Velex and FICO can dramatically reduce the risk of default.
Velex alone can be used as a pre-qualifier as it has built-in consumer, income, and employment insights. Velex can serve as a method to filter candidates before having to spend money on other costly solutions (i.e. credit verification, income verification, employment verification, etc.)
