Powerlytics Expands Granular Data Analysis for Online Lending Platform Avant
How does an online lending platform fueled by machine learning and big data further sharpen its marketing and income verification systems? With the only big data provider that has complete data at the zip+4 level for the 200 million adults and 30 million businesses that make up the U.S. economy. Powerlytics will provide income insights and data for Avant, the award-winning lending platform that is lowering the costs and barriers of borrowing for consumers.
Avant will use household and W-2 income provided at the zip+4 level by Powerlytics to streamline the application process by speeding income verification. The data will be used to augment and sharpen Avant’s existing targeted and automated income verification systems.
“Avant is a forward-thinking, data-driven company and these new sources of data will allow us to make better business decisions,” said Deena Narayanaswamy, Head of Data Insights for Avant. “Powerlytics offers a level of granularity in their data that will be invaluable to our business model as we help more borrowers gain access to the financing they need.”
“Powerlytics offers complete, accurate and granular data to companies looking for a competitive advantage from predictive analytics with a tool to support their goals,” said Powerlytics CEO Kevin Sheetz. “With a business model that has disrupted the traditional financial services industry, Avant has provided access to more than $4 billion in loans to consumers through its lending platform. Its use of the Powerlytics Market Intelligence Platform is a strong endorsement of the quality of data we provide.”
Read the full article here.