CUSTOMER: LIVBLE

Revolutionizing rent payments with Livble

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Goal

Improve rent payments, increase housing accessibility

Region

United States

Industry

Real Estate

Livble aims to revolutionize the rental experience by empowering tenants with flexible, manageable rent payments directly through their trusted property management software or resident portal. The platform enables tenants to split their rent into smaller installments over the month to align with their income, avoid fees, and build meaningful credit in the process.

Livble is pioneering a new era of financial freedom and convenience in housing. By seamlessly integrating into property management software and resident portals, they’re creating a future where paying rent is no longer a financial burden but a flexible and user-friendly process, making housing accessible, manageable, and inclusive for all.

For underwriting tenants who want to split their rent into installments over the month, Livble uses Plaid’s open banking data.

“Plaid has allowed us to get access to important cash flow data in real-time to better assess the eligibility of tenants to help them align their income with their biggest expense—rent. Plaid has enabled us to offer a new, flexible, more manageable rent payment experience. By harnessing Plaid’s open banking data, Livble can provide tenants with a flexible rent payment solution based on their unique financial situations. In a historically underserved space for fintech, our partnership with Plaid has brought a data-driven, financially inclusive solution to renters and their landlords and property managers alike.”

Josh Ehrlich

Co-Founder and CEO, Livble

Problem: When Livble is underwriting their tenant customer segment, credit scores and credit bureau data don’t provide a complete picture nor reflect the real earning patterns of the modern workforce. Understanding the cash flow of the tenant is critical, especially for a short-term solution that helps tenants better manage their cash flow by smoothing rent payments over multiple, more manageable payments.

Solution: Plaid enables Livble to access a tenant’s cash flow data to help them unlock the power of their own data, increase approval odds, reduce risk, and retain tenants for longer. Plaid’s multi-bank account linking provides tenants with greater odds of approval as, for many, income arrives in cycles, fluctuating month to month and often to different accounts.

Key Results:

Livble's cash flow underwriting model achieves approximately a 25% reduction in false positives compared to relying solely on credit scores.
Based on their current credit loss rates, using only credit scores, Livble would need to approve users with a FICO score of 680 or higher—eligibility criteria met by only 10% of applicants. However, through their cash flow underwriting model, Livble can approve approximately 3X more tenants while maintaining the same default rates as a credit-score-only approach.

For consumers