As featured in American Banker:
The recent banking crisis adds even more pressure on buy now/pay later lenders, which are taking steps to better manage underwriting and credit decisions in the months ahead.
Many lenders want to limit damage by using machine learning, which became more widely used during the past year as the BNPL industry faced financial and regulatory challenges.
"We have found it to be a better predictor than [traditional credit scoring]. We also use another machine learning model for fraud to determine if consumers are real or not," said Lee Brading, senior vice president of corporate development for Sezzle.
Read the full story in American Banker to see what our CEO, Ed Maslaveckas, has to say.