After five years plying the subprime lending sector, ZestFinance is finally moving into near-prime credit for debt consolidation. Known for its Big Data-driven loan underwriting for deep subprime customers, ZestFinance launched a near-prime personal loan product yesterday called Basix. This is just the company’s second direct loan product for consumers. Its first wasRead More
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Credit underwriting company ZestFinance has secured $20 million in additional funding from the likes of Peter Thiel, bringing its total funding to $100 million. ZetsFinance uses machine-learning to enrich its underwriting process. The ZestFinance process considers some 30,000 pieces of data when evaluating credit-worthiness, while traditional models count just 10Read More
Often, banking innovation boils down to the what: What is the future of retail banking? What will happen as payments evolve? What are the keys to a bank innovation strategy? In truth, the “who” of banking innovation might matter more. People, more than ideas, are the drivers of innovation, implementation,Read More
Earlier this week, Pageonce ditched its brand for a new identity — Check — and stepped in a different direction toward bill payment from PFM. This is a move to be proud of. Pageonce, which is an Israeli company, exhibited a strength that too many US companies lack: the abilityRead More