Bloom Credit Recognized as Best of Show at FinovateSpring 2024

Latest Bloom innovation helps banks and credit unions offer a deposit retention and credit enrichment solution to their client base

NEW YORK--(BUSINESS WIRE)--Bloom Credit, the leading API platform modernizing credit data reporting, furnishing and scoring, today announced it was named Best of Show at FinovateSpring 2024. Finovate, known for its innovative technology showcases, has regularly identified the most recognizable names in fintech including Betterment, Credit Karma, Mint, MX, and Prosper.

Finovate recognized Bloom for its demonstration of a product aimed at bringing mainstream credit to the masses through a unique, white label credit enrichment program that incorporates alternative data to determine consumer credit worthiness.

“The current credit data ecosystem is broken. With our platform and latest innovation, we’re helping our customers and partners to access and use accurate, permissioned data to enrich a consumer’s credit history while reducing lending risks. We thank our peers in the industry for recognizing the important work Bloom Credit is doing to reimagine and transform the data, infrastructure and technology powering credit access and decisions,” said Christian Widhalm, CEO, Bloom Credit.

Bloom Credit, along with Cascading AI, Kobalt Labs, QuickFi, Remynt, SAVVI AI, was selected out of 60 presenting companies. Voting was led by the more than 1200 FinovateSpring attendees spanning 300 financial, professional services, technology, and business organizations. Honorees represented the most current and interesting developments in fintech and the industry’s foremost priorities.

“Our congratulations to Christian and the Bloom Credit team. We’ve seen companies that have won this honor go on to have a major impact in banking and fintech, achieving remarkable milestones from game changing acquisitions or even becoming unicorns. Kudos for addressing key issues with consumer credit and making improvements to benefit individuals and lenders alike,” said Greg Palmer, VP and Host of Finovate.

Bloom Credit’s platform provides APIs for data access (credit inquiries) and furnishment (credit reporting). The data access APIs allow clients to order complex credit data products with a straightforward, bureau-agnostic API, and to receive data in a standard, normalized format. Bloom’s furnishment APIs enable the reporting of consumer and business tradeline data, with industry-leading data quality, supported by an extensive validation process. The furnishment APIs also support consumer-permissioned data and are the foundation upon which turnkey financial inclusion solutions for banks and credit unions are built.

For more information about Bloom Credit and their new consumer-permissioned data innovation, please visit www.bloomcredit.io.

About Bloom Credit

Bloom Credit is an API platform designed to modernize the infrastructure of the credit data ecosystem, including the enablement of real-time credit reporting, improvement in reporting accuracy, and expansion of the breadth of alternative consumer- permissioned data (CPD) provided to determine credit scores. Bloom Credit empowers its customers to launch and grow new classes of credit products by leveraging access, reporting and alternative CPD in a fraction of the time it has traditionally taken, leading to the development of important applications which can improve consumers’ creditworthiness. Learn more at www.bloomcredit.io.