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Credit unions and banks are asking the same questions right now. How do we grow deposits without taking on more risk. How do we get account holders to stay. How do we reach thin-file consumers without lowering our lending standards.

Consumer-permissioned data (CPD) is one answer. It lets account holders report payments they are already making, like rent, utilities, and phone bills, and turns that payment history into tradelines. No new debt. No new credit line. Just data that was sitting unused.

Bloom+ is our CPD product. Here is what happens when financial institutions put it in front of their account holders.

Deposits and engagement

• Deposits increase by 13% among enrolled account holders.
• Monthly Recurring bill pay activity rises by 5.2 payments per account, a 31% increase in engagement.

Account holders who enroll are using their accounts more, not just holding a balance. That activity is what turns a checking account into a primary financial relationship.

Retention

• Retention stays above 98% one year after enrollment.

Credit building becomes a reason to stay. Once an account holder is actively building history through an institution, switching costs go up.

Lending readiness

• 61% of thin-file and initial-score customers go on to get a new loan after enrollment.

This is the part that matters most for CRA alignment and lending pipeline. Thin-file consumers are often creditworthy, they just lack a file that shows it. Bloom+ builds that file using data the institution can already see.

What it means for the account holder

• The average thin-file or no-file consumer starts with a credit score around 657, just below prime.
• Credit score impact begins within 72 hours of enrollment.
• Scores increase by 16 to 23 points during enrollment.

For the account holder, this is a faster path to credit visibility. For the institution, it is a way to serve that consumer without changing underwriting standards.

Why this fits CRA and financial inclusion goals

Financial institutions get credit for expanding access to underserved consumers. Bloom+ gives institutions a way to do that using account holders they already serve, through data those account holders already generate. No new outreach required, no new product to underwrite.

See it for your institution

If you want to see how these numbers translate to your account holder base, book a demo.