FinTech Magazine - December 2021 | Page 112

LENDINGPOINT

2015 year LendingPoint was founded

US $ 4 + bn in loan originations

60bn data points have been collected by LendingPoint on their consumers

99 % of credit applications to LendingPoint are digital

63 % of credit applications are mobile-first

“ BASED ON YOUR CREDIT PICTURE AND INFORMATION ON YOUR APPLICATION FORM , IT ONLY TAKES FOUR SECONDS TO GET LOAN OPTIONS ON THE LENDINGPOINT PLATFORM ”

KN KASIBHATLA CHIEF TECHNOLOGY OFFICER , LENDING POINT as digitisation with a human touch . The FICO score is now less than 5 % weight in our models as we work in non-traditional ways to measure somebody ' s ability to pay back .

“ The point-of-sale and e-commerce have evolved over time . It started directly with the consumer , then they came through a website , where they could apply for their loans and get money . But as our consumers ' needs started evolving we expanded into the areas popular with our consumers . We ' re very focused on providing access when they

112 December 2021