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Stockhead on MSNNew CDR rules give power back to the people, as well as fintech lendersBack in 2019, Australian lawmakers kicked off something called the Consumer Data Right, or CDR. The idea was to give everyday ...
Fintechs are using AI and alternative data to speed up loan approvals, making credit more accessible to those overlooked by traditional banks.
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AI is speeding up loan approvals, and ASX fintechs like MoneyMe are ahead of the gameAt Wisr (ASX:WZR), 78% of its loans are automatically approved by its AI-powered decision engine. This automation has greatly boosted its loan originations book, even during slower periods.
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