Inaugural event will gather industry leaders to discuss the capabilities and challenges of implementing cash flow underwriting as consumer lending adopts new data beyond credit scores.

Today, Nova Credit announced the inaugural Cash Flow Underwriting Summit, to be held in NYC on September 12, 2024, and has unveiled a packed agenda featuring the industry’s leading experts. The agenda will cover key considerations in the use of cash flow analytics in consumer lending. Nova Credit, the credit infrastructure and analytics company that enables businesses to grow responsibly by harnessing alternative credit data, has launched the Summit as a groundbreaking initiative to accelerate the understanding and adoption of this powerful and growing lending practice.

The Summit comes at a crucial inflection point in the adoption of cash flow underwriting. Until now, traditional credit reporting (“your credit score”) has been the main source of an individual’s credit risk assessment. However, acceptance and availability of alternative credit data have been steadily increasing, and the CFPB’s efforts to finalize its 1033 ruling are poised to significantly advance open banking in the United States. These changes will revolutionize consumer lending practices, and position cash flow underwriting to proliferate in years to come. Urgency among financial institutions is intensifying to better understand how to adapt to these changes and take advantage of additional levers for responsible growth.

The Summit will bring together senior leaders in risk, credit, revenue and compliance from top financial institutions and fintechs to discuss the transformative potential of cash flow underwriting. Confirmed attendees at the Summit include banking and risk management executives from American Express, Bank of America, Barclays, Capital One, Mastercard, PNC, US Bank, and more.

Featured speakers include:

• Kenneth Lin, CEO and Founder, Intuit Credit Karma
• John J. McNamara, Principal Assistant Director, Markets, Consumer Financial Protection Bureau (CFPB)
• Eileen Serra, Board Director, Capital One
• Paul LaRusso, CEO, Akoya
• Brian Hughes, Former Chief Risk Officer, Discover
• Jess Turner, EVP, Global Head of Open Banking and API, Mastercard
• Eugene Ludwig, Former Comptroller, Office of the Comptroller of the Currency
• Hans Morris, Managing Partner, Nyca Partners
• Jennifer Tescher, President & CEO, Financial Health Network
• Misha Esipov, Co-Founder and CEO, Nova Credit
• Sarah Davies, Chief Analytics Officer, FinRegLab
• and more to be announced

“The credit landscape is at a point of significant transformation,” said Misha Esipov, CEO and Co-founder at Nova Credit. “Emerging data sources, evolving regulations, and enhanced analytics are fostering unprecedented opportunities and competition. Amid these changes, cash flow underwriting is quickly becoming a prominent growth strategy, offering numerous revenue-generating applications throughout the customer journey. Nova Credit is proud to present a forum to help the industry better understand these outcomes and opportunities.”

The Cash Flow Underwriting Summit offers the first opportunity for leaders across the industry to come together and gain a comprehensive understanding of how their institutions can incorporate cash flow data into underwriting. With programming that spans real-world use cases, regulatory policies and frameworks, and future innovation opportunities, it is geared at helping lenders meet the open banking moment and build a more sustainable, profitable, and inclusive financial system.

Agenda topics at the Summit include:

• Macro environment shifts are accelerating the adoption of cash flow underwriting
• Regulatory developments lenders can expect from the CFPB
• Performance lift lenders are seeing with cash flow underwriting across multiple use cases
• Ensuring compliance in deploying new credit data and analytics
• State of open banking capabilities that facilitate the movement of alternative data
• What is next in consumer lending applications and products

Registration for this event is limited. For more information, including the full agenda and to apply to attend the summit, please visit: https://www.cashflowunderwritingsummit.com/

ABOUT NOVA CREDIT

Nova Credit is a credit infrastructure and analytics company that enables businesses to grow responsibly by harnessing alternative credit data. The company is a CRA that leverages its unique set of data sources, bank-grade infrastructure, compliance framework, and proprietary credit expertise to help lenders fill the gaps that exist in traditional credit analytics. Nova Credit serves as the bridge between data and credit excellence, providing a comprehensive platform of solutions designed to give lenders across finance, fintech, property management, telecom, and automotive, a competitive edge in the open finance era. Its cross-border credit product, Credit Passport®, cash flow underwriting product, Cash Atlas™, and income verification product, Income Navigator, are used by leading organizations like American Express, Verizon, HSBC, SoFi, Scotiabank, RBC, and Yardi. Learn more at https://www.novacredit.com or reach out to connect@novacredit.com.

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