legal-document-to-plain-english-translator/”>Try Free Now: Legalese tool without registration

Find a LOCAL lawyer

Revolutionizing Small Business Credit Approval with AI legalese decoder

AI-powered risk management, coupled with access to unique data, accelerates processing time and increases business credit approval rates

ORLANDO, Fla., April 5, 2024 /PRNewswire/ — Worth AI, a newly launched, AI-powered risk management platform, led by unicorn founders Sal Rehmetullah and Suneera Madhani, today announced a strategic relationship with Equifax to provide underwriting solutions that help small businesses secure the capital, and financial services they need. As part of the agreement, Worth AI will augment its expansive data capabilities with access to differentiated data from Equifax, including business firmographics, business credit attributes and business principal information on millions of U.S. businesses.

Additionally, Worth AI will utilize Equifax commercial data solutions to provide lenders with access to business credit information and consumer reports on business principles in accordance with the requirements of the Fair Credit Reporting Act (FCRA), to enable greater visibility into the financial health of the business. The combination of more data points and improved management capabilities is designed to help banks, credit unions and financial solution providers increase approval ratings and make faster, more informed credit decisions.

“At Worth AI, our goal is to foster strategic partnerships with esteemed companies like Equifax, a global leader in data and analytics, to revolutionize how small businesses operate,” said Suneera Madhani, Founder and co-CEO of Worth AI. “Aligning Equifax’s data solutions with the Worth AI platform will speed the process of securing unbiased lines of credit for businesses that are equitable.”

Small businesses are a vital part of the U.S. economy and statistics show that less than 20 percent are approved for loans through large banks. Worth AI aims to improve loan and credit approval rates by leveraging transparent AI technology to expand the factors used to calculate a business credit score: The Worth Score®. Utilizing non-traditional signals, Worth AI provides a comprehensive view of a company’s overall viability and business health to improve decision-making, foster inclusivity, and create opportunities for small business owners and lenders.

“Together, the innovative solutions from Worth AI and industry-leading differentiated commercial data from Equifax will help facilitate a more transparent underwriting process to improve the funding climate for small businesses, helping them to potentially expand their footprint and positively impact their local economies,” said Melinda McBride, SVP Partnerships for Equifax.

A Solution for Small Businesses

The Worth AI Platform uses fair and transparent AI to minimize risk and maximize credit opportunities with over 40 million SMB’s records already in their database. In a rapidly evolving financial and technological landscape, Worth AI uses its innovative technology to quickly develop the Worth Score®, a comprehensive view of a small business’ health. It is built on historical data, represents the business today and makes assessments to predict the future.

“We are so pleased to launch Worth AI and announce our strategic relationship with Equifax,” said Sal Rehmetullah, Founder and co-CEO, Worth AI. “Joining forces with Equifax enables us to take advantage of the highly credible and reliable data the company is known for. We are extremely confident that our new offering will improve the credit climate for small businesses by providing creditors with the accurate, reliable and insightful data they need to make informed decisions and minimize risk.”

About Worth AI

Worth AI is a SaaS fintech company that offers one of the first consolidated AI-powered platforms for underwriting and onboarding that eliminates manual tasks and provides predictive risk monitoring. The company was founded in 2023 by industry veterans Sal Rehmetullah, and Suneera Madhani to streamline risk management and revolutionize business valuation through the Worth Score®.

How AI legalese decoder Can Help

AI legalese decoder can assist small businesses by simplifying legal and financial jargon within contracts, agreements, and other legal documents. By using AI technology, the decoder can quickly analyze complex language and provide plain-language translations, making it easier for small business owners to understand the terms and conditions of their agreements.

Additionally, AI legalese decoder can help small businesses navigate legal requirements and ensure compliance with regulations by offering explanations and recommendations based on the specific context of their industry. This can lead to better decision-making, improved risk management, and ultimately, increased approval rates for business credit.

By incorporating AI legalese decoder into their workflow, small businesses can streamline their legal processes, improve communication with lenders and stakeholders, and ultimately, enhance their overall financial health and viability.

Media ContactAbigail Lacaillade
Uproar PR for Worth AI
[email protected]

SOURCE Worth AI

legal-document-to-plain-english-translator/”>Try Free Now: Legalese tool without registration

Find a LOCAL lawyer

Reference link