Fintern taps AI and Open Banking to enter consumer loans market

Fintern, a UK-based fintech startup, is aiming to shake up the market for low-value consumers loans with the launch of credit technology that bypasses credit scores in making lending decisions, focusing instead on affordability. Founded by a team from McKinsey, EY, Bank of America Merrill Lynch, HSBC and XiaoMi, Fintern skips traditional credit scoring techniques by applying AI, Open Banking and transparent affordability testing to make lending decisions.
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