Taktile Launches Data Marketplace with Leading Data Providers to Empower Lenders
9.5.2023 12:01:00 EEST | Business Wire | Press release
Taktile, the leading automated decisioning platform, announced the launch of its Data Marketplace as part of its mission to revolutionize how fintechs and banks harness data to make decisions.
The Taktile Data Marketplace is a one-stop ecosystem of leading data providers that enables customers to easily access a global collection of traditional credit, identity, fraud, accounting, open banking, and alternative data sources. By leveraging these data sources, Taktile customers can refine their credit policies and automated decision flows to better identify the right customers and make smarter, more accurate decisions that support profitable growth.
Supported data integrations include: Codat, CRS, NovaCredit, Boniversum, credolab, LexisNexis, Experian, Transunion, Equifax, Creditreform and Belvo.
“Identifying the right data sources for your customer segment has never been more important, but building data integrations in-house is often painful, time-consuming, and resource-intensive,” explained Taktile Co-Founder and CEO Maik Taro Wehmeyer. “Our Data Marketplace makes it easy for risk experts to experiment with various data sources so they can focus on improving their decision accuracy rather than on building integrations.”
On Taktile’s low-code platform, fintechs and traditional financial institutions can easily add new data sources from around the world in minutes through using Taktile’s pre-built integrations that support both B2B as well as B2C use cases. In addition, Taktile already offers functionality today that enables customers to easily connect to any modern third-party API so that users are not constrained by the current offering of off-the-shelf integrations.
The obtained data is well-structured and organized, making it easy to glean aggregate insights, build custom metrics, and identify the right KPIs that take decision accuracy to the next level. Users can also simulate decision outcomes before setting new decision strategies live, empowering them to make informed decisions based on real evidence not speculation.
At a time when profitability is top of mind for fintechs and financial institutions, simplifying data integrations is a powerful advantage. Through rapid experimentation, Taktile customers can uncover the best data sources for their target population and ultimately increase acceptance rates, lower default rates, and offer competitive risk-based pricing–all without requiring any engineering resources.
“In a challenging market, it is lenders' ability to harness data to build the most comprehensive view of their borrowers that gives them the edge,” said Phil Low, Head of Partnerships at Codat. "Now that Codat’s universal API is part of Taktile’s Data Marketplace, Taktile customers can incorporate data from any major accounting, open banking or commerce system into their decisioning engine in a few simple steps. In other words, obtaining that edge just got a lot simpler."
The launch of the Data Marketplace reflects Taktile's commitment to innovation and its ongoing efforts to provide customers with the tools they need to succeed in today's rapidly changing business environment. As part of this commitment, Taktile will rapidly add new global data partners every month and expects to triple the number of providers by the end of the year.
About Taktile
Taktile is a rapidly-growing automated decisioning platform that is revolutionizing how companies harness data to steer their business. Taktile’s low-code platform allows companies to easily build, run and evaluate automated decision flows without requiring developers to write complex code. In a world increasingly run on automated decisions, Taktile makes it easy for credit and data teams to build more accurate decision flows, adapt to change quickly, and, ultimately, improve outcomes. Founded in 2020, Taktile has offices in New York, London and Berlin and is backed by leading VCs, including Index Ventures, Tiger Global, and Y Combinator.
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Contact information
Audrey White - audrey.white@taktile.com / +44 7908 033980
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