2.0 , an evolution of today ’ s model that is fully regulated , puts customer protection first , is responsible and sustainable .
Q . HOW IS AI CHANGING THE GAME IN FINTECH ?
» One of the things that attracted me to Zopa Bank is that we could use technology in a far more meaningful fashion to help build a good lending business .
Zopa Bank has been a pioneer and remains on the cutting edge in machine learning , a long time before LLMs and AI foundational models became buzzwords .
We have been using ML models for more than eight years , operating
an increasingly highly-automated lending strategy since 2014 with a focus on credit decisioning and customer engagement .
A lot of businesses talk about using machine learning , but very few can claim this much experience with it .
Using machine learning and data , we make lending decisions in less than eight seconds ; while 99 % of approved loans take less than five seconds for credit approval .
We will continue to use AI to improve our productivity and to drive better customer outcomes with cutting-edge technology and digitally native journeys that add true value for our customers .
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