Requesting a loan from Upstart is a lot like applying for a job at Google Inc. Both companies scour your academic credentials — GPA, alma mater and field of study — and run them through an algorithm that predicts your employability. Google uses the model to pluck the best hires from a vast pool of candidates. At Upstart, a new and somewhat controversial kind of financial institution founded by three ex-Googlers, the data helps determine who is most likely to honor their debts.
The California lending company launched three years ago to solve what its founders saw as a growing problem: People in their 20s and 30s have trouble securing affordable loans, largely because they lack the extensive credit histories that older generations have built up over time.ادامه خواندن