Credit instruments need to change. NOW!
Prevailing credit decisioning instruments (data, credit algorithms and underwriting technology) are dated. Banks experience high credit loss rates while customers get poor experience. These are classic symptoms of blunt credit instruments. General hype about new data sources and AI for credit, we believe, is distracting the banks and wouldn’t solve the real issues in credit underwriting or decisioning.
Financial institutions looking to expand their addressable market are engaging with Ether, which offers a smart suite of AI underwriting tools to better identify qualified prospects, flag high-risk prospects, and offer a more complete risk assessment. This approach allows financial institutions to attract prospects that were previously off the map and underwrite profitably for a previously underserved market.