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According to a report (paywall) by the Wall Street Journal, tech start-ups are revolutionizing the lending industry by finding alternative ways to judge someone's credit worthiness in the case of people who've never had a loan, credit card, or other revolving credit accounts. Instead of looking at payment histories that don't exist, the start-ups take a look at the user's cell phone habits. An app is installed on the potential borrowers phone and then authorized to collect all sorts of data from it. Branch is one of the companies involved in this. Founded by former Kiva (a microlending platform focusing […]
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