Nova Credit’s income verification solution to support Sallie Mae’s leading private student loan underwriting

NEW YORK: $SLM #cashflowintelligence--Nova Credit, a leading credit infrastructure and analytics company, today announced that Sallie Mae® (Nasdaq: SLM), the leader in private student lending, has selected the Nova Credit’s Income Navigator to support income verification as part of its private student loan underwriting process.

Income Navigator enables lenders to quickly and accurately verify consumer income, providing a more complete picture of an applicant’s financial profile. Sallie Mae will leverage the solution to support its underwriting process and help responsibly provide access to education financing for students and families across the country.

"Partnering with Sallie Mae, the gold standard in private student lending, is a proud milestone for Nova Credit,” said Misha Esipov, CEO, Nova Credit. “Paying for college is one of the most consequential credit decisions a family can make, and getting it right requires putting forward a complete picture of their financial health. “Income Navigator will help make income verification faster and easier, improving the customer experience while supporting disciplined lending decisions grounded in verified borrower affordability.”

“As the market leader for private student lending, we’re investing in innovative and scalable solutions to help more students access and complete their higher education,” said Vikas Tyagi, Chief Credit Officer, Sallie Mae. “Income verification is a foundational element of responsible lending, and implementing Nova Credit’s infrastructure and analytics with Income Navigator will allow us to make informed decisions for our business and for the students and families we serve.”

About Nova Credit

Nova Credit is the industry’s leading cash flow intelligence platform, enabling businesses to unlock the power of cash flow data in how they operate. The company leverages its industry-leading data infrastructure, intelligence layer, & FCRA-compliance to boost underwriting approvals, fight fraud, drive responsible growth, and more. Nova Credit supports over 7,000 businesses including organizations such as HSBC, SoFi, Appfolio, and Yardi, with a growing suite of products. Learn more at www.novacredit.com.

About Sallie Mae

Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.

Fonte: Business Wire