BankTech Ventures has invested in SOLO, a data collection platform.
BankTech Ventures said in a press release that SOLO’s platform enables secure, streamlined data collection and activation that lets banks make more-efficient and proactive underwriting decisions. The size of the investment wasn’t disclosed.
“SOLO’s unique ability to address the present needs of banks and their customers, while still building for the future, is what sets them apart,” said Carey Ransom, Managing Director at BankTech Ventures. “This investment signals a shift in how banks become more efficient and scalable in their lending, particularly for banks adapting to new standards of data governance within digital lending.”
SOLO is undergoing FCRA compliance, with plans to operate as a credit reporting agency by early 2025.