Too Long; Didn't Read
As many as a third of all Americans have bad credit, they often struggle to get credit back on track. Lenders and tech startups are starting to make alternative credit scoring models available to lenders. One of the largest and most widely-used credit reporting agencies has created a whole new alternative scoring model to expand credit access to those with little to no hard credit history. LenddoEFL, which uses a custom-built algorithm to assess non-traditional data and create a credit score, even garnered an Analytics 50 award for 2017.
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