It's our reason for being.
US financial institutions have basically said "no" to millions of Americans who are deserving of credit. They say it's too risky to lend to these “less than prime” customers. As a result, over a third of these people turn to payday loans.
The problem isn't risky customers. It's the limited data and old-fashioned risk analysis that financial institutions use to determine risk.
We've invented a new way to enable deserving people to borrow money they need at a reasonable rate. We're confident we can loan $1 billion and more through personifyfinancial.com. As our consumer brand name suggests, we offer "Loans with a human face."
And that's just the start. We estimate that there are a billion people worldwide we can help. We believe that by giving people the credit they need and deserve, at the lowest possible cost, everyone wins. Including our investors.
The best data science depends on knowing the underlying data inside out. No one has a deeper understanding of credit data than we do.
• An unmatched track record of building proprietary risk and analytic technology and using sophisticated countermeasures against online fraud
• Developed one of the most highly referenced US patents on risk determination and predictive modeling
• Worked to provide billions worth of responsible consumer loans
• Continually refined origination and servicing operations to reflect evolving consumer behavior and product performance.
They say that data science is a team sport. Getting from raw data to credit decision takes a lot of brilliant, creative, insightful people.
They need to know the data. They need to understand the science. And they need to be able to construct an elegant bridge between the two.
Because we've been at this for nearly 20 years, we know how to find the right people to build the right team. We've brought together the best.
• Uses "4th Generation" underwriting, a fully automated approach with data- and optimization-driven characteristics
• Leverages knowledge of consumer behavior across the full credit spectrum, enabling us to effectively price, manage, and monitor risk at a higher level
• Incorporates risk, prescreen, conversion, fraud, and lifetime profitability models
Ultimately, it's our mission to better serve the underserved that drives us to keep improving.