Big Data Disrupts Credit Applications As We Know Them

1 min read

Convergence is the latest buzzword in finance, and thanks to the relationship between payments and loans, we are now seeing the emerging point of sale (POS) lending. Just a few short years ago, POS lending would have been unheard of, as there was just not enough data to make a decision of that nature fast enough. We simply had a relationship with the bank and a FICO score to look back on, but sound financial decision-making needs more than that. This is where big data comes in. It bridges the gap between the known and unknown to provide a holistic picture of…...

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