Lantern Credit has acquired the Abstract Regression Classification (ARC) Machine Learning Library to enhance its proprietary machine learning solution, Beam AI; the firm expects the acquisition and machine learning enhancements to improve its credit advice, credit offers and support for financial institutions; according to Chad Swensen, CEO of Lantern Credit, "Leveraging the ARC software to advance the Beam AI technology produces the most advanced artificial intelligence and machine learning application in the consumer credit management space." Source
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The China market is bigger than the US and they tend to move much faster; Emmanuel Daniel of The Asian Banker compares China today to 1971-1984 in the US when regulation was just beginning to be put in place; Credit China is an example of a successful P2P lender in China, now valued at $3 billion; Yew Kiat Phang speaks about the company, sharing how they initially were a traditional lender, constrained by capital and customers with single revenue streams; the company took a broad approach to fintech, first obtaining a third party payment license; company reported $12 billion in 2016 on their P2P lending platform; their payment gateway saw $30 billion in flow for 2016; Yew Kiat Phang shares other details on the company in the video. Source