Machine learning techniques are starting to break down inefficiencies in lending markets, enabling wider access to credit and putting downwards pressure on borrowing rates. This post explores how LendingClub uses machine learning to reach its strategic goals, and where the potential for process improvement still exists.
AI enabled alternative credit scores: A threat to Equifax?
Using machine learning to gauge small business owner's credit worthiness to provide unsecured loans. Real application limited by small sample size. Basic statistical analysis could be more useful than complicated predictive analysis for small data sets.
BankMobile looks to machine learning and alternative data sources to boost the bottom line.
Can consumers and regulators be convinced?
Machine-learning is disrupting how companies manage credit default risks allowing medium banks and fintechs to produce robust prediction models obtaining supreme accuracy and speed. GuiaBolso, one of the main fintechs in Brazil, is leveraging its large customer information database with machine-learning to provide credit at more competitive rates than leading banks in Brazil.