Taktile Launches Marketplace to Help Lenders Access New Data Sources

Taktile has launched a marketplace that helps lenders access new data sources.

The new Taktile Data Marketplace includes providers of traditional credit, identity, fraud, open banking, accounting and alternative data, the automated decisioning platform said in a Tuesday (May 9) press release.

The platform also features prebuilt integrations that enable financial institutions and FinTechs using the Taktile platform to add new data sources in minutes, according to the release.

“Identifying the right data sources for your customer segment has never been more important, but building data integrations in-house is often painful, time-consuming and resource-intensive,” Taktile CEO and Co-Founder Maik Taro Wehmeyer said in the release. “Our Data Marketplace makes it easy for risk experts to experiment with various data sources so they can focus on improving their decision accuracy rather than on building integrations.”

With the new Taktile Data Marketplace, lenders can obtain data that is structured and organized, simulate decision outcomes before implementing new decision strategies, and integrate and experiment with data sources, without needing engineering resources, according to the press release.

The platform currently supports 11 data integrations, and Taktile expects to triple the number of global data providers by the end of the year. One of those already supported on the platform is Codat.

“In a challenging market, it is lenders’ ability to harness data to build the most comprehensive view of their borrowers that gives them the edge,” Codat Head of Partnerships Phil Low said in the release. “Now that Codat’s universal API [application programming interface] is part of Taktile’s Data Marketplace, Taktile customers can incorporate data from any major accounting, open banking or commerce system into their decisioning engine in a few simple steps.”

The launch of the marketplace comes about six months after Taktile raised $20 million in Series A funding to further develop the capabilities of its platform and accelerate its expansion across the U.S.

“By allowing businesses to adjust their decision flows in a quick, easy and data-driven way, we help them optimize decision accuracy, reduce risk and significantly improve their margins,” Wehmeyer said at the time.

The launch also comes on the same day that Truv acquired Credegraph to expand its lending verification offerings, adding Credegraph’s credit decisioning platform to its own consumer-permissioned data platform.