SAN FRANCISCO, September 7, 2021 (GLOBE NEWSWIRE) – Tillful’s core mission is to create a more accurate and inclusive credit system that serves small business owners better than the current financial system. Research continues to indicate that the traditional corporate credit rating framework often does not accurately represent borrower eligibility for small business opportunities and financing.
This week, Tillful announced the launch of its new free iOS mobile app. Tillful’s mobile app is the first on the market to offer a real-time business credit scoring platform that leverages alternative data.
It makes credit information and business credit scores much more accessible and actionable, and offers exclusive access to financing for the platform’s more than 25,000 existing small businesses.
âWe’re more committed than ever to ensuring small business owners get the credit they deserve,â says Ken So, Founder and CEO of Tillful and its parent company, Flowcast, Inc. âThe expansion to mobile was a natural extension of our mission to empower underserved business owners and deliver direct value to our users.We are committed to our mission to increase financial literacy and access to financial products for small businesses and businesses. communities of founders. “
Since launching a year ago, Tillful has facilitated over $ 10 million in business finance for SMEs across the United States With over 40 different online lending and fintech partners, Tillful meets the needs a wide range of credit profiles covering sectors such as construction, retail, hospitality, logistics and e-commerce.
Traditional credit rating systems rely on static data, which can paint an incomplete and imperfect picture of true creditworthiness, often to the detriment of already underserved businesses. Alternatively, the Tillful Business Credit Score uses real-time connected banking and transaction data to find cash flow patterns that show a more accurate and up-to-date picture of a company’s financial profile and creditworthiness as a commercial borrower. This, in turn, allows Tillful to connect these businesses with the right loan and finance opportunities they need to be successful.
Tillful Senior Data Scientist Alex Keller explains why their model is different. “At Tillful, we believe that more inclusive predictive models must start with explainability and transparency so that lending makers understand the implications of how their credit scoring systems define creditworthiness.”
The Tillful iOS app is available on the App Store here.
About Tillful Tillful is a product offered by the same team behind Flowcast, a Series A fintech backed by ING Ventures and Bitrock Capital. Flowcast leverages its patented AI and machine learning (ML) methodologies to create high performing predictive models for financial institutions that assess risk and allow lenders to automatically optimize credit offerings. Flowcast’s technology has been deployed in partnership with some of the world’s largest financial institutions. Tillful leverages this technology and expertise to give SMEs free, real-time access to credit scores, financial ratings, and actionable data to guide credit and cash flow decisions. The company is headquartered in San Francisco. Learn more about www.tillful.com.
For additional media inquiries or interview requests, please contact Amber Fehrenbacher, Director of Marketing, at [email protected]
Image 1: Tillful iOS appTillful Apple iOS App Store preview image
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