Limited access to business health intelligence makes it difficult to build a BNPL product for small businesses
With increased access to alternate data intelligence through PowerCred, new age fintechs can design highly targeted BNPL solutions for small businesses
With differing needs of various small businesses, determining credit worthiness as well as credit limits for small businesses is challenging
PowerCred’s detailed insights into transaction details as well as identity gives credit card providers better visibility of business health of small businesses, making it possible to provide customized solutions
With most small businesses not being able to provide traditional information required for underwriting, lending institutions are unable to serve these small businesses
Through PowerCred’s robust data engine, neo-banks, new age lenders as well as fintechs get access to rich alternate data, allowing them to provide credit to small businesses and reduce the credit gap
Similar to lending, the lack of traditional financial data from small businesses proves to be a challenge with respect to determining accurate insurance coverage
With access to alternate data, insurers get visibility to financial and business health of small businesses allowing them to customize their offerings for small business requirements