NEW: The First Bank-Led Network for Customer Data Sharing
SOLO, Backed by 100+ Banks, Announces the First and Largest Bank-Led Customer Data Sharing Network
Jul 24, 2025
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1 min read
SOLO, Backed by 100+ Banks, Announces the First and Largest Bank-Led Customer Data Sharing Network
NEW YORK, NY – July 24, 2025 — SOLO, backed by over 100 community and regional banks and growing quickly, announced the launch of its Customer Data Clearinghouse — the first and largest consumer-consented data sharing network designed to ensure that verified customer data is portable, protected, and equitably governed across institutions. Unlike legacy bureaus and aggregators, SOLO ensures that the parties that incur the operational burden of validating trust — banks, lenders, and service providers — are compensated, not cut out.
The Customer Data Clearinghouse enables cross-institutional data reuse through consumer-consented experiences. The network supports identity, financial, compliance, and contextual data, including explanatory statements captured at specific moments in time — unlocking a more comprehensive record for consumers and small businesses.
Trust-As-A-Service
"In an industry where data has replaced relationships, access no longer hinges on who owns the data, but on who is incentivized to share trust. We should all be incentivized to vouch for the customer — even if we’re not the one servicing them" says Georgina Merhom, Founder of SOLO.
For decades, credit bureaus and data aggregators have treated trust as a spoke and wheel commodity, rather than a collaborative asset. SOLO has created a transparent network rewarding verified data enablers while recognizing the consumer’s freedom and the importance of a simple, unified and trusted consumer record.
"Customer-reported data isn’t an asset — it’s a liability. It demands verification, regulatory scrutiny, and endless back-and-forth just to become usable. Its value only emerges when a financial institution puts in the work to convert it into a credible track record. SOLO automates that transformation at scale — powering over $400M in monthly lending volume across our customers today. With the Clearinghouse, we take the next leap: institutionalizing Trust as a Service. We enable industry-wide data sharing that rewards relationship-building, not data hoarding,” continues Merhom.
From Someone Who's Done It Before
From Eric Woodward, Former President of Early Warning Services, and SOLO Advisor:
“Bank owned consortiums like The Clearinghouse (creator of RTP) and Early Warning (creator of Zelle) were the first wave — proof that banks could collaborate on shared infrastructure when incentives aligned. But customer data has remained stuck. Not because it isn’t valuable, but because of how it’s collected: event-based, fragmented, scattered across systems that can’t talk to each other. Most banks can’t even reconcile customer data internally — let alone across the network. I’ve been watching SOLO build toward this [network launch] for the last year. What gives them the right to win is simple: they’ve unified messy, disconnected customer data into a portable trust layer — live today, even at institutions with some of the lowest technical maturity.”
To learn more about joining the network, contact team@solo.one.
