Sharing innovation to inspire action

A new way to evaluate credit history

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The fintech startup Petal, in conjunction with WebBank, is offering a credit card to the estimated 65 million people in the US who have insufficient credit history to qualify for a traditional credit card. Instead of relying on credit scores, Petal uses cashflow underwriting based on machine learning. It considers how much money consumers make, the bills they pay on a monthly basis, and trends in volatility in their income and expenses. www.americanbanker.com/news/petal-webbank-launch-card-for-credit-invisibles
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By emma

23 February 2019

 
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