How fintechs are using AI to transform payday lending | American Banker


Startups in the payday lending space say their use of artificial intelligence is allowing them to make better loans at lower rates with fewer defaults.

“The power of artificial intelligence versus business intelligence is BI is purely retrospective, whereas AI looks forward into the future and predicts — what will this person do based on similarity with other customers?”

Source: How fintechs are using AI to transform payday lending | American Banker

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