Kreditech is a company that uses artificial intelligence (AI) and machine learning to assess credit risk. The company is based in Hamburg, Germany, and was founded in 2012. Kreditech’s mission is to provide access to credit for people who are underserved by traditional financial institutions.
Kreditech’s AI and machine learning algorithms analyze a wide range of data points to determine a person’s creditworthiness. These data points include traditional credit bureau information, such as credit scores and payment history, as well as non-traditional data sources, such as social media activity and online behavior.
One of the key advantages of using AI and machine learning to assess credit risk is that it allows Kreditech to make more accurate predictions about a person’s ability to repay a loan.