Lenders turn to big data to know customers
Signals about behaviour are the focus of startups that are creating new lending models
San Francisco
WHEN bankers of the future decide whether to make a loan, they may look to see if potential customers use only capital letters when filling out forms, or at the amount of time they spend online reading terms and conditions - and not so much at credit history.
These signals about behaviour - picked up by sophisticated software that can scan thousands of bits of data about online and offline lives - are the focus of a handful of trailblazing startups that are creating new models of lending.
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