Uplinq and Visa Case Study Reveals 50% Reduction in Underwriting Costs by Using AI-Powered Credit Assessment Technology

New report details automated credit decisioning technology’s ability to enhance risk evaluation, remove bias, and drive profitability for lenders

TORONTO--(BUSINESS WIRE)--Uplinq, the first global credit decisioning support platform for small business lenders, announced today the release of a joint case study with Visa, a global leader in digital payments, unveiling the advantages of AI-powered credit decisioning technology for small business lenders.

Using original data from Uplinq and Visa, the case study, "Transforming global small business underwriting with augmented data" details the challenges small businesses face in securing affordable credit, including the limited data many financial institutions (FIs) reference when determining small business loan applicants’ creditworthiness.

Leveraging sophisticated AI and machine learning models to augment existing underwriting processes, the case study found that Uplinq helps FIs approve more loans while driving significant time and cost savings. Key data in the case study reveals:

• On average, Financial Institutions using Uplinq’s technology have seen a:
  • 50% reduction in underwriting operating costs
  • 15x reduction in credit losses
  • 3x average increase in line of business profitability

“If banks can make a profit growing the economy, and small businesses can prosper in the process, everybody wins,” said Patrick Reily, co-founder of Uplinq. “Fairness, inclusivity and success in the economy are all objectives that AI can optimize itself around, and Uplinq is turning that vision into reality.”

“We’re grateful to Visa for their continued strategic collaboration, and this case study underscores the significant potential for Uplinq’s technology to positively impact both financial institutions and the communities they serve,” added Ron Benegbi, CEO of Uplinq. “AI-powered credit decisioning not only broadens access to affordable credit by empowering lenders to approve small business loans they would otherwise deny, but also significantly improves lenders’ underwriting efficiency and profitability – a true win for all involved.”

This case study builds on Uplinq’s ongoing relationship with Visa, through which Visa refers U.S. and Asia Pacific-based financial institutions that lend to small businesses to Uplinq and its breakthrough credit decisioning technology.

“Ensuring small businesses have ready access to the affordable capital they need is a critical part of Visa’s mission and a key factor in broad economic health,” said Jonathan Kolozsvary Global Head of Small Business, Visa. “We look forward to continuing to work with Uplinq to strengthen credit access, which, as this case study demonstrates, has substantial benefits for small businesses and lenders alike.”

To learn more and download the full case study, please visit here.

About Uplinq:

As the first global credit and scoring assessment platform for small business lenders, Uplinq is a purpose driven company with a mission to help small business owners gain access to fair and ethical credit, while enhancing SMB lending practices for all lenders globally. Uplinq's breakthrough technology empowers lenders to approve and manage risks on loans they would have otherwise declined based on traditional loan underwriting criteria, while incorporating environmental, market and community data to better understand the specific loan applicant. Its technology has served as a foundation for more than $1.4 Trillion in underwritten loans. Learn more about Uplinq at uplinq.co and connect with them on LinkedIn, Twitter or YouTube.