![]() We’ve successfully built a brand that enables us to collect bank data via a third-party called Plaid, which gives us a more reliable and robust set of bank data. Most lenders (even fintechs) collect pdfs of the bank statements from our target customers. CAMINO FINANCIAL DRIVERThey said: “Another unique value driver in our data is the bank transaction data our applicants share with us during the application process. They are also able to pull Experian credit data for all their applicants during the loan process, as well as their personal data from LexisNexis. While their businesses are established, about %0% of applicants and borrowers are undocumented, and so they use their individual tax identification number (ITIN) to pull their credit history and verify their identity. The data used to achieve this analysis is varied, with the most valuable data used is the loan application and credit performance data that is highly concentrated among first-generation Latinx immigrants who operate an established business. Luna.AI enables the company to reveal previously hidden insights, accelerating a greater analysis of their customer market and determining demands as well as the identification of business hindrances. Thus, Luna.ai is able to provide Latinx business insights to offer best-in-class financial services to the New Mainstream Latinx Economy while increasing customer retention and lifetime value, offer higher approval rates and lower customer acquisition costs, lower credit defaults, and yield higher performance.” “Furthermore, Luna.ai hosts a robust business intelligence interface which gives us timely insights to identify market and operational opportunities and risks. We use this data to build ML models that enable us to reduce our customer acquisition costs, reduce credit default risk, offer more competitive loan terms, and further automate operational workflows,” said Sean and Kenneth. “Luna.ai hosts the largest proprietary data set of the Latinx market including sales & marketing data, credit performance and payment behaviour. ![]() Luna.ai has a cloud-based infrastructure and is integrated with third-party solutions so it can scale without compromising data governance, compliance and security. They have also produced the largest bilingual content hub to empower Latinx entrepreneurs to thrive and graduate into lower-cost, longer-term credit products.Ĭamino Financial has built data infrastructure and ML models around its Luna.ai backend platform. In response to this Camino Financial offers simple and affordable loans to microenterprises that find it difficult to borrow through a bank, establishing long-term financial partnerships with our borrowers helping them build their credit and graduate to lower interest rate loans. This has been a particular issue during the Covid-19 pandemic leaving small businesses left in the lurch. When it comes to small business owners, they can often be left behind due to a lack of access to capital. We have since devoted our lives to never leave a small business behind.” said the brothers. “She opened over 20 Mexican restaurants in the Greater Los Angeles area but struggled to manage her business after 25 years. The inspiration came after their mother lost her business when they were 12 years old. Camino financial was originally founded by twin brothers Sean and Kenneth Salas back in 2014. The company is passionate about empowering Latinx entrepreneurs to thrive. ![]() Sean and Kenneth Salas, Founders of Camino Financial The company is uniquely positioned to offer affordable loans, combining its proprietary AI technology with access to CDFI designated low-cost capital and resources. ![]() Camino Financial is the first AI-powered Community Development Financial Institution (“neo-CDFI”) expanding access to credit for underserved Latinx entrepreneurs in the U.S. ![]()
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