“We knew we needed to build our own credit risk assessment model from the ground up. Developing an alternative credit risk assessmentWhen someone applies for a credit card, a bank typically carries out a credit risk assessment before approving their application. The traditional credit risk assessment can take days and would require people to submit a slew of documents and financial statements, which may deter some from applying altogether. “We knew we needed to build our own credit risk assessment model from the ground up. “Many consumers realise that they are paying annual and interest fees on credit cards, while BNPL offers better services.

Source: The Edge Markets March 28, 2021 16:18 UTC