FAQs

Bloom has recently launched a client portal (https://clients.bloomcredit.io) to facilitate the onboarding / credentialing process and provide ongoing account support. We are continuing to develop and launch new functionality on this platform. Your customer success team will provision access after contracting.

The Bloom platform has a tiered pricing structure based on the number of inquiries (data access) and/or statements processed on a monthly basis. Discounts are available for annual payments, and multi-product commitments.

Currently, Bloom only supports businesses operating within the US. Corporate headquarters may be located outside the US.

Bloom can make introductions and referrals to help with these types of engagements. As a CRA and a Data Processor we can provide guidance on how data may be used and what data can be furnished, but we are not a substitute for legal counsel.

Bloom is offered purely as SaaS, however we anticipate being able to take annual contract payments via Marketplace Private Offers starting in 2024 Q2.

As we continue to develop our client portal, we anticipate adding standard usage reports.

This depends on your use case.

For data access, you will need to integrate your systems with Bloom’s APIs. Bloom can recommend a systems integrator with expertise in our APIs if needed.

For furnishment, whether or not engineering work is required depends on the loan management system / system of record in use at your firm. Bloom has turnkey integrations with multiple LMS providers, which make adoption seamless. Please see our integrations page for information on supported systems of record.

Presently Bloom does not maintain any SDKs, and all integration is done directly with the API. If you are interested in creating and open-sourcing an SDK for a specific language, please contact us about collaboration on the effort.

Not currently, but support for AWS PrivateLink connections is on our roadmap (as a paid add-on available to Enterprise tier clients).

We maintain an internal SLO of 99.7% availability and response time of less than 2 seconds.

SLAs are available for an additional fee to clients on Enterprise tier plans. Please contact your sales representative for more information.

We have a 24 hour RTO, and an RPO of 10 seconds.

The default limit is 10 rps. Clients on an Enterprise tier plan can request higher limits.

Bloom maintains SOC 2 Type II, PCI DSS, and CSA STAR Level 1 compliance. We have achieved AWS Partner status and our platform is AWS Qualified Software. Operating controls, compliance reports, and other policy and procedure information can be found at our trust center: https://trust.bloomcredit.io.

Bloom is in the process of standing up a vulnerability disclosure program which would give recognition, but not financial compensation, to any researchers who report an unknown vulnerability.

We currently perform penetration testing on an annual basis, with a retest for any issues identified once remediated.

Bloom provides credit data in a normalized, bureau-agnostic JSON format. The raw report is not available.

Bloom stores the entire normalized, bureau-agnostic credit data, per the data-retention schedule. Enterprise plan clients may set a custom data-retention schedule.

Not currently, but this is on our roadmap.

Yes. Professional and Enterprise plans support the “connector” use-case where Bloom facilitates the retrieval, normalization, and storage of bureau data.

Bloom Silver and Gold tier reports are available with either FICO 10 or Vantage 4 scores.

When acting as a reseller, clients are credentialed directly with Bloom Credit. When providing connector services, it is typically the client’s responsibility to complete credentialing activities with their chosen bureau.

The data included within Bloom’s Gold SKU reflects the collective experience of the team as well feedback from advisors and clients on the most important and impactful data elements needed to accurately decision and price a credit product. This data set will necessarily evolve over time as new data types gain acceptance and become more widely reported. To that end, Bloom supports the Vantage 4 and FICO 10 scores, both of which include rent payments in their models.If there are specific data elements that you are interested in and do not see listed, please contact our sales team to discuss.

Yes, to the extent that each bureau accepts this data.

Bloom can report business credit cards and loans both with and without personal guarantees to the major credit bureaus. We do not support reporting to Dun & Bradstreet.

Data quality validations are performed at multiple points in the furnishment process. Some reporting errors can be detected at the time of account, statement, or event creation, in which case the endpoint will return an error code.

Other errors are detected at the time that the Metro2 file is created, in which case they will be communicated asynchronously. Currently, a furnishment report is generated that summarizes all issues uncovered during the generation process. This file is shared with clients for remediation. Bloom may explore the use of webhooks in the future.