ZestCash, an online loan provider, claims that it will be able to lend 25 per cent more money by using a big data-based credit assessment method.
The California-based company, founded by former Google CIO Douglas Merrill, will use data from other creditors such as mobile phone companies and payday lenders to create a more accurate system for determining the outcome of loan applications. By analysing multiple sources of data ZestCash will be able to decide how much to lend an applicant and at what rate.
