Socure and Nova Credit have formed a partnership to enhance credit access through the integration of the latter’s cash flow insights into the RiskOS platform.
This collaboration brings Nova Credit’s air Credit Reporting Act (FCRA)-compliant Cash Atlas solution to Socure’s RiskOS system, allowing lenders to assess borrowers’ creditworthiness more accurately by analysing real-time cash flow data.
The integration aims to extend credit access to qualified individuals often missed by traditional credit models.
RiskOS combines extensive identity graphs with real-time data to detect fraudulent activities with high precision. By incorporating Cash Atlas, which evaluates consumers’ income and spending patterns for their true repayment capability, the partnership seeks to reduce fraud risks while expanding credit opportunities.
This approach targets traditionally underserved groups such as recent graduates, gig workers, and immigrants who often face challenges due to limited credit histories.
The combined solution is expected to provide significant benefits to Socure’s enterprise clients by broadening their market reach without sacrificing underwriting standards.
Lenders can identify eligible borrowers within existing applicant pools who may have been previously overlooked, thus promoting financial inclusion and potentially increasing revenue.
Currently, over 25 million Americans are estimated to be unscored by traditional credit systems, leading to hurdles in fair credit access. The integration between Socure and Nova Credit addresses this gap by offering a more comprehensive assessment of applicants’ financial behaviours.
Socure platform product head Ravi Sandepudi said: “Too many hardworking Americans are treated as invisible by outdated credit scoring models.
“RiskOS provides lenders with a complete view of the individual by bringing together any data service provider on the market, including 85+ pre-integrated partners like Nova Credit. Together, we’re empowering financial institutions to confidently approve millions of deserving borrowers while maintaining the highest standards of risk management.”
In addition to this partnership, Socure recently launched its next-generation Age Assurance solutions integrated into the RiskOS platform. This offering is designed for industries requiring age verification due to regulatory and reputational concerns, providing businesses with adaptable workflows that adhere to evolving legal standards while maintaining user privacy.
