Alternative Data Announcement Welcomed by All Lenders
On December 3rd the federal banking and credit union regulators issued a statement on the use of alternative data in lending decisions which ...
Fintech Lenders Tighten Credit Standards
Last quarter the average personal loan in the U.S. went to borrowers with an average credit score of 717 and income of more ...
New Research Published on the Use of Cash Flow Data in Underwriting
Independent research lab, FinRegLab, has released their long awaited report on the use of cash flow data in underwriting; they collected and analyzed data from ...
Big Data in Lending has Ability to Confirm Biases and Extend Credit to Weaker Borrowers
After the financial crisis banks pulled back from lending to anyone they deemed a potential risk; this helped spur many of the fintech lenders ...
Customer journey of trying to get a loan and how it could be improved
Writing in a blog post on lendit.com Charles Earle, Business Development Director at Equiniti discussed the issue he had in trying to increase credit limit ...
Fighting Financial Crime Without Excluding the Underbanked
The founder and CEO of IBM’s Promontory Financial Group, Eugene Ludwig, said artificial intelligence, already employed to help identify potential anti-money-laundering activity, is getting smarter, ...
New Study Shows Digital Footprint Can Predict Default Rates
A new study from the Federal Deposit Insurance Corp.’s Center for Financial Research shows that digital footprints can help predict default rates; the paper ...
Forbes Reports on Credit Scoring in China
Alibaba’s Hua Bei is expanding its mini loan business as the e-commerce platform continues to grow; it is just one of China’s many online lenders ...
Using AI in Credit Scoring
Lending Times reports on the evolving uses of artificial intelligence in credit scoring; discusses the long term prospects for the technology; notes how the technology ...
Managing Credit Models in an Online Marketplace
Understanding the credit models of lenders is a key determination for ...