Algorithms and AI Contribute to Consumer Equal Access to Credit
by: Joe DeCosmo, Chief Analytics and Technology Officer
Technological change accelerated during the pandemic, leading many people to adopt new ways to complete everyday tasks. Online tools and mobile applications have exploded for everything from shopping, food delivery, and even financial services.
At the onset of the pandemic, Enova, as with most businesses, decided to reduce risk immediately. It wasn’t immediately clear at the time how the covid-19 pandemic would progress and how it would impact our customers’ financial situations. One of our immediate goals was to quantify this risk — ...