Startups are using new datasets to assess your credit worthiness. New lenders are using information pulled from your social activity, telco usage and geo location. One of these companies, is ZestFinance, analyzes thousands of potential credit variables... to better assess factors like the potential for fraud, the risk of default, and the viability of a long-term customer relationship,”
by Don Reisinger @donreisinger DECEMBER 1, 2015, 6:01 PM EST E-mail Tweet Facebook Linkedin Share icons A wave of startup are using unconventional information to decide if customers are credit worthy. Getting a loan based on your credit score is so old-fashioned. Over the last few years, a number of technology startups have created ways to assess credit worthiness that don’t rely on the traditional methods. Instead of analyzing credit scores, they look at mishmash of seemingly tangential information about applicants like their social network profiles, how often they use their cell phones, and whether they frequently send text messages.
http://fortune.com/2015/12/01/tech-loans-credit-affirm-zest/?xid=nl_termsheet
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