Strong Year Highlights Industry Demand for Underwriting Automation Software
San Diego, Calif. (December 12, 2024) – MoneyThumb, a leader in automated document evaluation and fraud detection solutions, announced today that the company is exiting 2024 with record annual growth. MoneyThumb processed over $2B transactions, more than doubled its workforce, and achieved 60 percent year-over-year in conversions per day. The company's strong performance reflects its laser focus on streamlining workflows for financial professionals. Lenders rely on MoneyThumb’s software to manage risk while delivering more capital, faster, to small businesses nationwide.
“Our strong momentum is a result of our team's seamless execution and our ability to instantly convert bank statements and detect fraud in seconds,” said Ryan Campbell, chief executive officer, MoneyThumb. “MoneyThumb continues to play a critical role in the small business lending industry by eliminating the burden of manual processes, empowering lenders to focus on what truly matters—helping entrepreneurs succeed and grow."
Automation in lending has become mission critical for staying competitive. Lenders who embrace automation position themselves to better serve their customers and expand their lending capabilities. MoneyThumb is transforming the lending industry by leading the shift from manual document processes to full automation. Its advanced technology streamlines data extraction and analysis, enabling lenders to make faster, more accurate decisions.
The company also helps detect fraud with its Thumbprint® product, an AI file tampering detection tool that identifies fraudulent activity in seconds, giving lenders a powerful defense against risk and loan losses. Up to seven percent of revenue, billions of dollars and thousands of hours are lost every year due to fraudulent applications in the lending industry.
MoneyThumb announced in August 2024 that it was acquired by Iron Creek, marking another milestone for the company, which plans to expand to additional industry verticals in 2025. The company also opened its new headquartered office in San Diego.
For more information on MoneyThumb, please visit www.moneythumb.com.
About MoneyThumb
MoneyThumb is an advanced automation software solution that streamlines the lending underwriting process by converting bank statements instantly into actionable data. By exponentially increasing efficiency, accuracy and the detection of fraud – MoneyThumb empowers lenders and accountants to make faster, more informed and accurate decisions. MoneyThumb is headquartered in Encinitas, California, and serves customers globally. For more information visit www.moneythumb.com.
Media Contact:
Tracy Rubin
JCUTLER media group
tracy@jcmg.com
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