Mastercard Selects Parlay Finance to Join Start Path Small Business Program
Mastercard selects Parlay Finance for its Start Path program, empowering small business lending through AI-driven loan intelligence.
Alexandria, Virginia – Parlay, the first-of-its kind small business loan intelligence system (LIS), today announced its acceptance into the Mastercard’s Start Path Small Business program. Parlay is one of eight start-ups from around the world selected for their dedication to democratizing financial tools and providing cutting-edge services. During the 4-month program, participants will leverage Mastercard’s network and subject-matter expertise to uncover powerful product partnerships that help small businesses on their digitization journey.
Parlay revolutionizes small business lending with its Loan Intelligence System (LIS), a suite of AI-powered applications that enables community banks and credit unions to increase small business loan volume, efficiency, and profitability. Parlay’s LIS rapidly qualifies leads in the earliest stages of the applicant funnel, then seamlessly sends the information to existing Loan Origination Systems (LOS). Using a combination of external, internal, and proprietary data, Parlay’s proprietary workflows and advanced machine learning models reduce manual data gathering, improve time-to-decision, and maximize business value for both lenders and small businesses.
The Parlay LIS provides an intuitive digital application experience, capturing all necessary information for lenders to make confident, informed decisions while simultaneously nurturing "core customer" applicants who might otherwise be turned down. Parlay assists applicants throughout the loan process by offering insights on how to improve their loan readiness.
“We’re thrilled to join the Mastercard Start Path program to tackle the problem of affordable access to capital for small businesses,” said Alex McLeod, Founder of Parlay. “Mastercard’s commitment to delivering seamless, digital experiences for small businesses around the world perfectly aligns with Parlay's north star. We envision a future where community lenders, powered by Parlay's AI-driven Loan Intelligence System, can help get millions more small businesses approved for loans while increasing revenue and reducing unnecessary risk and overhead.”
"As the fintech landscape continues to evolve at a rapid pace, Mastercard is embracing opportunities to support and collaborate with startups to build the future of small business innovation through the Start Path startup engagement program. Mastercard has selected Parlay to join its ecosystem of innovators and will provide opportunities to access its network of partners, mentorship opportunities and resources to support their scaling journey.” Sabrina Tharani, SVP of Global Fintech Programs at Mastercard.