Lending without credit score is nothing new!
$Upstart(UPST.US$ Chinese prople has been doing that for thousands of years! The notable Alibaba has been doing personal loan without credit since 2004.
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Bobi2206 : Yeah u are the smartest
70163959 OP Bobi2206 : Lots of countries don’t have a credit system like we have, they still do loans. Upst ‘s high growth in Last 2 quarters were based on 2020 when their business almost down to zero. If you check their earnings in 2019, it was way higher than 2020. That Says their mode Highly depends on the overall capital market.
70163959 OP : Their model highly depends on the overall capital market.
71075665 : The US would have a better economic growth curve if they didn’t have a credit score system. Cash business does not grow economies.