Category: Fintech
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The rise of earned wage access: how AI-driven apps like DailyPay and EarnIn are disrupting payday loans
Earned wage access apps offer paycheck advances using AI risk models and are eating the payday loan market. Whether that’s a win for borrowers depends.
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Algorithmic Underwriting: How AI Is Replacing the Traditional Payday Loan Application
Machine learning models now decide payday loans in seconds using thousands of data points. Faster underwriting isn’t always fairer underwriting. Here’s why.