THE FINTECH TIMES
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Accordingly, many self-employed people with a steady source of income do not pass conventional bank loan screenings due to strict and outdated credit scoring criteria. credit rating fintech sectors such as these other industries are taking a new approach by considering alternative data points like social signals and percentile scoring amongst similar borrower groups.
In addition, all these qualitative factors combined with an intelligent and self-learning algorithm could lead to better lending decisions over time. For example, if there is a way to determine negative profiles based on social presence before loan disbursement, then a lender could avoid having to deal with loan recovery. Check disclaimer on profile and landing page.
The financial services segment could possibly provide a commercial loans to entrepreneurs and SMEs and giving turn key credit outsourcing services to banks and other lending institutions.
It might be #useful for all users to have mobile access to their bank accounts at any time and from any location.
#E-banks could possibly establish a virtual banking system for customer convenience, allowing customers to access their accounts at any time and from any location.
It could provide procurement and distribution of products within #supply platforms.