Research: Alt lending model outperforms credit score on opening up lending
An academic paper studying anonymized administrative data from fintech lender Upstart Network found its alternative credit-decisioning model could widen the ...
Tag: alternative data
Lenders use alternative data to expand auto books
Auto lenders in the first quarter leveraged TransUnion’s alternative data and underwriting models to expand their lending pools as the ...
Aite’s Parrish: Lenders should align incentives with consumers’ best interests
Banks and fintechs alike are figuring out new ways to reach underbanked consumers. Leslie Parrish, senior analyst with Aite Group’s ...
With Tillful, Flowcast creates Credit Karma-like platform for SMBs
Flowcast, a San Francisco-based credit-scoring startup, is working with banks to give a fintech advantage to large incumbents while also ...
OCC to use new data to reach underbanked
The Office of the Comptroller of the Currency wants to use new data sources to determine creditworthiness and give underbanked ...
Fintechs target 32M unbanked, underbanked households in US
With more than one-quarter of U.S. households unbanked or underbanked according to data from the FDIC, fintechs have long promised ...
Consumer Utility and Telecom Payments Can Help Lenders Reach Underserved Population, Report Says
A person’s utility bill can reveal a lot about their financial profile. And many banks and alternative lenders are using ...
Why Does Alternative Credit Scoring Help Consumers?
EXCLUSIVE— As fintech progresses, consumers are flocking to digital services and products, which all rely on the same thing: data. ...
The Rise of Alternative Data in the Lending Market
EXCLUSIVE - There were conflicting views on the importance of the FICO score at the PayThink Conference in Phoenix this week. ...
CFPB Reassures Fintechs with ‘No-Action’ Letter for Upstart Network
Online lending service Upstart Network has received a “no-action” letter from the Consumer Financial Protection Bureau, the first such letter ...
