ZestFinance

“We build our models in R, and we implement our models in R. So, ah, we're using R serve you know, on Amazon clusters to score our models. Ah, we score in three seconds.”

“We've, ah, we've actually been approached by the Consumer Financial Protection Bureau, ah, about, in essence, giving us kind of a waiver to say that, you know, we're gonna protect you from regulators who dispute this or don't like it.”

“Nobody is taking an SVM, ah, naive Bayesian, you know, A hidden mark off a random forest, and assembling those into a credit decision, as far as I know. We haven't come across them. I've talked to some of the biggest lenders.”

“When we implemented in December, we saw fraud drop overnight by about 98% and we saw first payment failures drop by more than 40% you know, between December first and December second when we implemented the model.”

“Everybody kind of, everybody first off assumes that we're scraping Facebook. We're not.”

“We're a lender. So we're, you know, we're not in the business, ah, primarily in the business of selling models or techniques. We're not a consulting company. We are actually making loans, you know, on our own portfolio, and that's where we believe the money is…”

“The data that has the most impact Is the same data that has always had the most impact. It's just instead of being 10 or 15 or 20% of the equation, it's, you know, it's three to five percent of the equation.”