Intuit uses real-time small-business data to predict cash gaps and offer loans
Overview
Intuit says its real-time view of small-business payments, payroll and expenses lets it predict cash flow shortages and offer lines of credit or term loans before banks can.
Todd Denbo, Intuit's senior vice president of lending, says annual lending grew from about $400 million four years ago to almost $7 billion in the company's most recent fiscal year.
Intuit says AI drafts financial actions, but a human must approve any action that moves money.
Written by AI from the articles below · updated Oct 30, 10:47 AM ET
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- SiliconANGLE · AINewsIntuit uses real-time small-business data to expand its lending business
AIIntuit says its real-time view of payments, payroll and expenses lets it predict cash flow shortages and offer lines of credit or term loans before banks can. Todd Denbo, Intuit's senior vice president of lending, says lending grew from about $400 million a year four years ago to almost $7 billion in the latest fiscal year. The company says AI drafts financial actions, but a human must approve anything that moves money.
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