BLOCK OPENS CASH APP SCORE TO EXTERNAL LENDERS THROUGH NOVA CREDIT

Summary from the TLDR Fintech newsletter

Block is making its proprietary Cash App Score available to outside lenders for the first time through Nova Credit's Cash Flow Intelligence Platform, using real-time Cash App activity such as spending, saving, repayments, deposits, and peer-to-peer transactions to supplement traditional credit data. Block says the score approves 38% more Cash App Borrow customers at the same loss rate as traditional scores and could help lenders expand approvals across credit cards, auto loans, personal lending, device financing, and tenant screening without requiring consumers to link new accounts.