Use Case: Cash Advance

Problem

50% of Americans struggle to pay their bills on time. Cash Advance services help millions of consumers to pay for essential expenses by gaining access to wages they have already earned but have not been paid yet. 

However, building and scaling a cash advance service presents a few challenges:

  • Increasing acceptances while maintaining low default rates
  • Reducing defaults from non payment
  • Lowering customer churn
  • Reducing the rate of failed ACH pulls 

How we help:

Attributes Endpoint

Pave’s 100+ attributes surface insights into a user’s cashflow and ability to repay an advance. Use these attributes in your own custom risk model. 

Connect your data sources to Pave and retrieve the following types of attributes within seconds:

  • Income history and predicted future income
  • Gambling habits and expenditure shocks
  • Current debt payments and predicted future bill amounts
  • Bank transfers and bank fees
  • 100+ more – we’re launching new attributes weekly

Affordability and Risk Scores

Pave’s affordability scores are trained on a large and growing dataset of cash advance and loan history across our vast network of customers. Our scores help drive lift in your models for:

  • Predicting the likelihood of default on a cash advance or loan
  • Predicting failed payments or transfers
  • Predicting the advance or loan amount a user can afford to repay

Detect Other Financial Accounts

Often times a user will connect an account that has insufficient account history or doesn’t meet your qualifying criteria. 

Pave allows you to prompt users to connect additional accounts that have been detected in transaction history to:

  • Increase acceptances by prompting users to connect a different account if their connected account does not have sufficient history or data
  • Improve risk models by analyzing signals and behaviors across multiple connected accounts

Detect other Cash Advances

One of the strongest predictors of cash advance default is detecting other cash advance repayments and defaults. 

Pave allows you to retrieve a history of all cash advance deposits, subscription payments, fees, repayments, and defaults.