Fintech
Bloom Credit joins the American Fintech Council (AFC)
THE American Fintech Council (AFC), the leading industry association representing responsible fintech companies and innovative banks, today announced the addition of Bloom Credit as its newest member. Bloom Credit, the leading API platform that modernizes credit reporting, provisioning, and scoring, is democratizing financial services and creating access to credit. They will join a rapidly growing group of responsible innovators working together to serve consumers without compromising consumer safety.
“Ensuring access to credit for as many people in the United States as possible requires innovation in financial services that ensures accurate and holistic credit data,” She said Phil Goldfeder, CEO of the American Fintech Council. “Bloom Credit is changing the financial services ecosystem by safely and efficiently simplifying and expanding the type of credit data lenders can consider, opening up a world of opportunity for consumers who have historically been excluded. We are thrilled to welcome Christian and his team and add their powerful voices to the chorus of companies changing the future of finance.”
Bloom Credit offers a comprehensive platform that enables fintechs and innovative banks to offer reliable credit services, improving their ability to effectively serve consumers and partners.
“We are leveling the playing field for fintechs and banks of all sizes who want to securely and seamlessly access and provide accurate credit data and maximize credit optionality for consumers,” She said Christian Widhalm, CEO of Bloom Credit. “Understanding the holistic picture of a consumer’s credit creates additional financial products and responsible tools to enable consumers’ paths to greater financial health. We thank the American Fintech Council for its tireless support and advocacy for responsible innovators who are changing the status quo, and we look forward to working with their growing membership.”
Bloom Credit’s platform provides APIs for data access (credit inquiries) and provisioning (credit reporting). Data access APIs enable customers to order complex credit data products with a simple, bureau-neutral API and receive data in a standard, normalized format. Bloom’s provisioning APIs enable consumer and corporate trade line data reporting, with industry-leading data quality, supported by an extensive validation process. Provisioning APIs also support consumer permissioned data and are the foundation upon which turnkey financial inclusion solutions for banks and credit unions are built.
A standards-based organization, AFC is the leading trade association representing the world’s largest financial technology (FinTech) companies and innovative BaaS banks. Our mission is to foster a transparent, inclusive, and customer-centric financial system by supporting responsible innovation in financial services and encouraging sound public policy. AFC members promote competition in consumer finance and pioneer products to better serve underserved consumer segments and geographies.