The CashScore can be used to supplement a traditional credit score or as an alternative when a traditional score is unavailable or unreliable. The CashScore leverages thousands of financial data points that are missing from traditional credit reports, describing a consumer's key financial factors, like income, assets, expenses, and financial volatility. CashScores are available for the millions of thin-file and no-file consumers that lack traditional credit history. When credit history is available, the CashScore provides a differentiated, incremental view of risk that improves overall credit decisioning.
No credit history is required to calculate a CashScore. Instead, Prism Data requires only bank account transaction history (i.e., the digital bank statements) from a consumer’s primary bank account, with at least three months of history. Although only the primary account history is required, we recommend using data from all of the material bank accounts used by the consumer.
The CashScore measures the relative probability of credit default in rank order on a scale from 0 to 999 (999 being the best possible score). This means that a consumer with a score of 875 is less likely to default on a loan than a consumer with a score of 425.
The CashSore measures creditworthiness based on assets, income, and expenses—essentially, the money that a consumer makes, saves, and spends on a monthly basis. The CashScore is a strong measure of the ability to pay, as well as financial stability. Consumers that make more than they spend tend to be lower risk, and achieve higher CashScores.
