When services scale in China, they go big. Beijing-based credit-scoring platform Wecash recently counted more than 35 million users. Not too shabby, and even better considering that little more than a year ago, it had just eight million. Its most recent boost came from the Hong Kong-based accelerator Supercharger. Wecash took partRead More
Post Tagged with: "credit scoring"
Thin file? No problem. U.K.-based alternative credit-scoring engine Aire is heading to Canada next month, and to the U.S. a few months after that, CEO Aneesh Varma told Bank Innovation this week. Aire provides lenders with data on thin-file borrowers, whose age, work history, or place of residence may have limited their creditRead More
Fair Isaac Corporation, which invented the FICO score, was founded way back in 1956. The FICO score was one of the great Fintech innovations before the term Fintech was coined and the company is now publicly traded (symbol is FICO of course), with a market cap over $2.8 billion.Read More
Welcome to the newest innovation sector: alternative subprime lending. Fort Worth, Texas-based Elevate appears to be leading the charge in this new sector, announcing today that its total loan originations has hit $442 million. Elevate launched in 2014 and offers three products: RISE, a personal loan, Elastic, a paycheck advance, andRead More
Lenddo Lenddo is like Klout for your credit score. Using the number and quality of your social connections to help determine your creditworthiness, Lenddo is looking to bring fair lending to those who might be denied credit from traditional sources. Based in the Philippines, Lenddo has a strong following amongRead More