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March 24, 2021

Stilt provides financial services for all

Hugo Mekaoui

When it comes to obtaining loans, immigrants can find themselves in a catch-22: no one will give them a loan because they don’t have a credit score, and they don’t have a credit score because no one will give them a loan.

Stilt solves this problem by underwriting loans with cash-flow data. By analyzing things like an applicant’s income, education, and savings habits, they gain a more accurate representation of an applicant’s ability to repay, enabling them to bring more people into the US financial system.

Stilt’s use of cash-flow underwriting hinges on their ability to access an applicant’s financial information. Though the company initially attempted to build this functionality themselves, they quickly realized that working with a connectivity provider to help users link their accounts would be faster, easier, and more secure.

That’s why Stilt turned to Plaid.