Financial institutions are increasingly using automated models to accelerate credit decisions leveraging AI/ML. In order to build the next-generation models to handle these tasks, organizations must design systems that are reflective of the dynamics of a modern economy (prevalence of gig/flexible workers) and have the appropriate supporting data to assess. Argyle is an employment data platform that provides companies with real-time access to employment data that can be used in decisioning. All the data on the platform is user-permissioned, protecting the personal information of the applicant. In terms of employment, decisioning models have far too long stringently relied only on traditional W2 income for assessing worthiness, limiting access to the financial system for otherwise qualified potential borrowers. With Argyle, banking, lending, loan servicing, and insurance companies can get verified, real-time income data straight from the source. In addition to income and employment verification, the company also offers paycheck-linked lending, where loans are repaid directly from paycheck proceeds. The platform contains data and is integrated with 75% of the US workforce, covering 75M employees across 500K employers. AlleyWatch caught up with Argyle Founder and CEO Shmulik Fishman to learn more about how his experience in adtech served as the inspiration for the business, the company's strategic plans, latest round of funding, which brings the total funding raised to $77.6M, and much, much more...
$20B in new funding across the nation; here's a look at the top rounds. Everything you need to need to know about the largest US startup funding rounds of February 2022; broken down by industry, stage, investors, and more…
