The Synergy between DigiFi and ValidiFI: Elevating Credit Risk Evaluation in Digital Lending
ValidiFI and DigiFi have formed a partnership to offer lenders automated, streamlined credit decisioning.
DigiFi’s automated digital lending platform will feature ValidiFI’s credit risk solutions as part of a new strategic integration, the companies announced in a press release on Wednesday (Dec. 4). According to the release, DigiFi-enabled lenders have processed over $100 billion in loan applications, and the DigiFi platform simplifies the lending process from application to funding.
According to the release, ValidiFI’s predictive bank account and payment intelligence assists in validating bank accounts, detecting deception, and assessing credit risk. The release stated that the recently announced integration will encompass ValidiFI’s vIndex, vAccount, vAccount Plus, vFraud, and vCredit solutions, which will assist DigiFi’s clients in making lending decisions, reducing friction in the lending process, and enhancing fraud prevention strategies.
ValidiFI has recently disclosed two additional partnerships The company announced on November 20 that it had collaborated with PDI Technologies, a fuel/convenience retail tech company, to integrate ValidiFI’s real-time bank account validation for the consumer enrollment procedure into PDI Technologies’ payments solutions. ValidiFI and J.P. Morgan Payments collaborated on October 28 to enhance the security and confidence of businesses in the validation of bank accounts and the execution of transactions. By integrating J.P. Morgan Payments’ validation services into its network, ValidiFI can offer consumers a broader range of bank account insights and expanded coverage.
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Industry Comments
“By integrating ValidiFI’s data intelligence solutions, DigiFi clients can unlock higher conversion rates, improve operational efficiency and make smarter lending decisions with confidence,” ValidiFI CEO John Gordon said in the release.
“Selecting ValidiFI as the preferred provider for bank account validation empowers consumers to choose how they enroll their bank account — using their online banking credentials or manually entering bank account information,” ValidiFI said at the time in a press release. “The collaboration increases instant consumer approvals, strengthens fraud detection, and empowers more informed risk decisions through validating bank accounts and assessing behavior.”
“We are excited to add ValidiFI as a valuable partner to our platform,” DigiFi CEO and Co-Founder Joshua Jersey said in the release. “With this addition, our clients will gain access to credit risk solutions that provide a comprehensive view of creditworthiness, enabling more predictive, automated decisions.”
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FAQs
- What is the partnership between DigiFi and ValidiFI?
DigiFi and ValidiFI have partnered to integrate ValidiFI’s credit risk solutions into DigiFi’s automated digital lending platform. This collaboration aims to streamline credit decisioning and enhance fraud prevention for lenders. - What does DigiFi offer to lenders?
DigiFi provides an automated digital lending platform that simplifies the lending process, from application to funding. It has facilitated over $100 billion in loan applications. - What solutions from ValidiFI will be integrated into DigiFi’s platform?
The integration includes ValidiFI’s solutions such as:
- vIndex: For predictive credit analysis.
- vAccount and vAccount Plus: For bank account validation and fraud detection.
- vFraud: For enhanced fraud prevention.
- vCredit: For assessing creditworthiness.
- How does ValidiFI enhance lending processes?
ValidiFI uses predictive bank account and payment intelligence to validate bank accounts, detect deceptive behavior, and assess credit risk. This helps lenders improve decision-making, reduce operational friction, and prevent fraud. - What are ValidiFI’s other recent partnerships?
- With PDI Technologies: Integrated real-time bank account validation into PDI’s payments solutions for consumer enrollment.
- With J.P. Morgan Payments: Enhanced security and confidence in bank account validation for transactions, offering broader insights into account behaviors.
- How does this integration benefit consumers?
The partnership allows consumers to choose how they enroll bank account information (via online credentials or manual entry). It increases instant approvals, improves fraud detection, and provides a more informed credit risk evaluation.
Conclusion
The partnership between DigiFi and ValidiFI represents a significant advancement in digital lending technology. By integrating ValidiFI’s sophisticated data intelligence solutions, DigiFi empowers lenders with the tools to enhance credit risk evaluation, improve fraud prevention, and streamline the lending process. This collaboration not only benefits lenders with improved operational efficiency but also offers consumers a more seamless and secure borrowing experience.
Together, DigiFi and ValidiFI are setting new standards for automated, predictive, and informed decision-making in the financial industry, paving the way for a more robust and reliable digital lending ecosystem.
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