ForwardAI Introduces ForwardAI Precise, A Lender-First API that Provides Real-Time, Accounting & Financial Data For Low-Risk Small Business Lending

The lending procedures that financial institutions use to qualify SMB borrowers are way out of date while rising fraud cases and costs disproportionately impact smaller banks, credit unions, and digital lenders. ForwardAI, a lender-first fintech platform, launched ForwardAI Precise today, an API that provides the most comprehensive suite of cash flow, accounting, and financial data for small business loans available today. ForwardAI Precise gives lenders real-time access to more than 160 points of historical and forward-looking data insights focused on current accounting and financial data, allowing them to determine the potential financial feasibility of small and medium-sized firms more rapidly and accurately.

ForwardAI Precise automates cash flow lending by giving users access to real-time, short-term, and long-term cash flow forecasting, which is backed by a number of data attributes. Each SMB is assigned a financial health score based on ForwardAI's proprietary algorithm, making it simple for lenders to determine creditworthiness outside the business owner's personal credit score.

ForwardAI Precise gives access to up to three years of historical data and a year of forward-looking data, as well as cross-data authentication of accounting transactions with banking data, to ensure consistency and reduce the risks involved with small business lending. The API is easy to use and can be combined with current lender systems within 24 hours to enhance the financing experience of borrowers.

ForwardAI Precise gives you real-time, uninterrupted, and direct access to the majority of the world's small business and accounting platforms. Accounting data that is fully normalized, both raw and ready-to-use, is generated by every accounting platform and can be customized to meet the needs of each lender. Then, trusted banking data is cross-referenced with accounting data to improve transparency, trust, and accuracy. ForwardAI is building and extending integrations with industry-leading software such as Intuit QuickBooks, Xero, FreshBooks, Oracle NetSuite, Sage, Zoho Books, Microsoft Dynamics 365, and several others.

In addition to ForwardAI Precise, the company launched ForwardAI Access, a white label dashboard that provides detailed views of the SMB's top revenue months, clients, suppliers, cash inflows and outflows, benefit and loss statements, balance sheets, accounts receivable (AR), accounts payable (AP), and more. Borrowers who want to see more advanced and in-depth cash flow should use the forecasting app ForwardAI Predict.

About ForwardAI
ForwardAI.com Inc., established by financial technology industry veterans, is transforming the SMB lending industry with a lender-first single API that offers real-time access to more than 160 data points based on existing accounting and financial data, as well as the most reliable prediction of an SMB's potential financial wellbeing of any service on the market.