An Australian fintech startup is going all-in with a unique algorithm that it says will revolutionise the business lending market.
Sail Funding’s big data application analysis, with inputs from third-party databases and applicant-provided information, allows the startup to make customers a loan offer that is tuned to the applicant’s risk profile.
This means less chance of rejections and less chance of sub-optimal borrowing terms.
“Being rejected for a loan can be catastrophic but having to put up your home or car as collateral also causes significant personal challenges,” said Sail founder and chief executive Yanir Yakutiel, who will launch the venture in Sydney on Tuesday.
For more on this story visit the following link: This Australian fintech startup uses new identification technology and wants to bust open the small business loan market
Source: Business Insider