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Are they using machine learning to determine this or simply a hard coded algorithm? I would imagine a combination of both, but I'm very curious how they generat
by zippzom 11y ago
Are they using machine learning to determine this or simply a hard coded algorithm? I would imagine a combination of both, but I'm very curious how they generated enough data to train their model.
- sedachv 11y agoZestFinance (former employee here) uses machine learning, I imagine Upstart does as well if they are talking about signals. There is a ton of data you can obtain about people from marketing and third party credit agencies, of course you mostly end up relying on your own ongoing loan portfolio performance to train and validate models as time goes on. Using ML for loan applications is an old idea. There is a whole chapter about credit scoring using decision trees, genetic algorithms, and neural networks in Miller's 1990 Computer-Aided Financial Analysis.