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Classified in: Science and technology
Subject: Product/Service

Velocity Solutions Announces "VelocityScoretm" to Enhance Unsecured Consumer Borrowing Power


Velocity Solutions announces its new VelocityScoretm, a proprietary feature that calculates a score indicating an account holder's ability to repay the liquidity extended to consumers by their community bank or credit union. This new feature is being released with the launch of Velocity's Consumer Liquidity Enginetm that helps community banks and credit unions empower their account holders with a choice of responsible and affordable consumer liquidity solutions.

The VelocityScoretm:

"This is just one of many steps in our effort to completely revolutionize consumer liquidity management," said Christopher Leonard, CEO of Velocity Solutions. "There are no other fintechs in our space offering this unique metric that provides a daily snapshot of short-term liquidity risk for community banks and credit unions using alternative data. Our ultimate goal is to empower our community financial institution clients and their account holders with the most responsible and compliant liquidity management solutions."

To learn more about Velocity's Consumer Liquidity Enginetm, click here.

About Velocity Solutions, LLC

Founded in 1995 and servicing the transaction accounts of over 30 million consumers and business owners, Velocity Solutions is the leading provider of technology solutions that drive revenue, service and compliance for community banks and credit unions. Our Velocity Intelligent Platform® powers all of Velocity's solutions, using machine-led intelligence that delivers powerful analytics, manages risk, and drives revenue, loans, account holder engagement and non-interest income to our client financial institutions. For more information, please visit myvelocity.com.


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News published on 24 may 2022 at 09:05 and distributed by: