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Discover Using AI to Better Assess Borrowers
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Discover Using AI to Better Assess Borrowers

Discover Using AI to Better Assess Borrowers

Fintech Nexus Staff·
FintechNews RoundupUSA
·Mar. 4, 2019·1 min read

Discover plans to use artificial intelligence in order to learn more about their personal loan applications; for instance, shopping at a discount score may improve chances of getting a loan while other behavior may lessen chances of getting approved; the new system will go into place the second half of this year; Discover has recently tightened their underwriting standards and cut back on who they approve but losses continue to increase; by using additional data they hope to approve more borrowers without taking additional risk. Source

  • Fintech Nexus Staff
    Fintech Nexus Staff

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