How they describe themselves: Aire is an alternate credit score for people. Our mission is to help thin-file customers qualify for essential financial products via their Aire Score.
Aire is a strong proponent of financial inclusion and we aim to deploy our technology across geographies. Our API will now enable lenders to leverage our score as an input to their decision.
We are a team of serial entrepreneurs with deep experience in predictive algorithms and alternative credit models. This journey started from a personal episode, which motivates us forward.
Backed by TechStars and leading seed-stage investors, Aire has received strong recognition from the media and government for our work. Aire respects data privacy and is completely driven by user consent.
How they describe their product/innovation: Aire is launching its Credit API at FinovateEurope 2015. The API enables lenders to use Aire to perform a credit check when traditional data doesn’t exist in the credit bureaus.
The immediate benefit is the ability to re-score applicants when no data exists on their bureau file. This enables lenders to expand the pool of eligible applicants by removing the no-data problem.
The API can also be used as a credit enhancement amongst other use cases that we are excited to see companies explore. The signup for the API opens at FinovateEurope for our partners.
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms