Prism Data Technologies Market Research Report

Company Overview

• Name: Prism Data Technologies, Inc.

• Mission: No information is available.

• Founded: Development began in 2016 as a project under Petal, and spun out into its own company in early 2023.

• Founders: Jason Rosen, who also founded Petal.

• Key People:

• Jason Rosen, Founder and CEO.

• Erin Allard, General Manager.

• Headquarters: No information is available.

• Number of Employees: No information is available.

• Revenue: No information is available.

• Company Known For:

• Cash flow underwriting infrastructure and analytics, notably the CashScore®.

• Providing actionable insights from consumer financial transaction data without handling personally identifiable information (PII).

Products

• CashScore®:

• A predictive score evaluating the probability of credit default based on deposit account data rather than traditional credit history.

• Facilitates underwriting for consumers lacking traditional credit histories.

• CashScore FirstDetect™: A risk model targeting early payment default risk and first-party fraud.

• Distinguished by its ability to provide insights into spending patterns, income, and other financial activities.

• Insights:

• Offers over 15,000 trended attributes, detailing financial behaviors like rent payments, assets, and obligation tracking.

• Provides real-time financial insights, aiming to inform risk decisioning and improve customer targeting.

• Income:

• Validates gross and net pay, and assesses income stability and diversity of income streams.

• Useful in determining a consumer’s ability to repay loans beyond their immediate paycheck.

• Categories:

• Categorizes disorganized transaction data into actionable information for underwriting.

• Includes over 35 categories, such as rental payments, gig income, and purchasing patterns.

Recent Developments

• Recent Product Launches:

• CashScore® v4: A more powerful iteration of their cash flow underwriting score.

• Announced the launch of CashScore FirstDetect™, focusing on identifying first-party fraud.

• New Partnerships:

• Collaborated with Plaid, enhancing the ability of lenders to use open banking data for underwriting.

• Partnerships with Provenir and Zoot to expand CashScore usage.

• Funding Developments:

• Raised $5 million in seed funding led by Obvious Ventures, with contributions from Citi Impact Fund and Core Innovation Capital.

• Plan to use this funding to expand team capabilities and product offerings in response to increased demand.

• Corporate Reorganization:

• The company spun off from Petal in early 2023 to focus on expanding its B2B cash flow underwriting solutions.

• Other Initiatives:

• Existing partnerships and pilots with several large banks and over 20 clients since its standalone inception.

Note: For fields where data was not available or provided, the report indicates "No information is available".