How AI Is Reshaping Lending

Artificial intelligence began influencing banking services a few years ago, occupying key roles in:

  • Identity verification
  • Fraud detection
  • And customer service automation

Now, AI and machine learning (ML) have reached the core of the industry: consumer lending.

By searching out infinite patterns in credit data, ML models paint a more nuanced picture of default risk. Using ML strengthens lender yields, finds good new borrowers and broadens credit access for consumers, especially in near-prime or subprime segments.

A full-scale transition to algorithmic underwriting is underway but faces some questions and hurdles along the path to broader adoption. Fill out the form to download this report which identifies near-term AI-related themes and trends to watch in 2020 and beyond.