Credit decision engine: Introducing Render
December 7, 2022
Render is a credit technology company focused on bringing open banking affordability models into credit decisioning.
It was born out of the B2C company: Abound. With the purpose to carry on Abound’s vision to the greatest number: offering a fairer access to credit and effectively serve missing or thin file customers.
The idea behind Render’s product is simple
For smaller lenders, or Fintech companies - Render credit decisioning platform enables lenders to build an end to end credit decisioning journey. Navigating through referral cases easily and building complex automations to detect fraud and meet regulatory requirements.
For bigger lenders, banks, Render is here to improve the existing by leveraging banking transactional data, while reconciling it with credit bureau. Reducing risks and increasing market reach.
Render’s product features
Access strong affordability models – Coupling credit bureau and transactional data within a single API, Render delivers income verification, identification of financial distress, vulnerability scan, data completeness check and much more.
Remove the manual work for underwriters by setting your own automated loan decisions. From the data collection through providers to the loan decisions, Render allows you to build pre-qualification screens or optimise your click to disbursal rates with its no code decision platform.
For the few referral cases left, streamline your processes and bring consistency into you manual underwriting. Visualise income and core expenditures. Communicate with your underwriters the information they need at the right time.
By centralising in one place, the all credit decisioning and offering allow-code environment, Render helps lenders transition towards a fully digital structure. This is not only resulting in a saving on cost, but also towards a better user experience for their end customers.
Illuminate credit bureau data by integrating banking transaction data is powerful. Leveraging this approach Abound has been able to increase its market reach by 40%, while observing a 75% reduction rate in credit default. With only one fraud case identified so far.
Eager for more
Hear our managing director, Jonathan, deep dive into what credit decision engines are, how they can benefit lenders, and unveil Render’s vision for the future here.