Panel urges lenders to open up to non-prime borrowers

By Sasha Padbidri
07 Mar 2017

Lenders and other financial institutions need to shed their stereotypes about non-prime borrowers and consider alternative data sources to help expand their access to credit, speakers told conference attendees on day two of LendIt USA 2017 on Tuesday.

Krishna Gopinathan, co-chief executive at Applied Data Finance, appealed to a room packed with lenders and investors to re-evaluate their misconceptions about non-prime consumers.

“Some of these misconceptions are that these consumers are dumb, disorganised or intentionally trying to harm lenders they’re borrowing from. The truth is far ...

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