AnnaMaria Andriotis
speaker
201 appearances
3 recordings
1 series
first heard Dec 2018
last heard Oct 2019
AnnaMaria Andriotis’s voice in public audio — every appearance, attributed to the second.
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Appearances
that could actually help you from an applicant standpoint because it will give Discover more confidence that you are who you say you are, that they can trace you back to actually your own individual identity.
It's primarily because six-figure incomes
while they do sound, as you said, as very financially stable, are not representative of the majority of U.S.
population, meaning that the low six-figure incomes or higher are significantly higher income than the median U.S.
household income.
So apparently when applicants put in what appears to be a relatively high income, at least compared to most of the U.S.
population, that sends up red flags.
And it's, well, is this loan applicant really making this level of money that they claim to be making?
Or are they just putting in a high figure so that we can think of them as, oh, they must be a great credit risk because look at how much money they make.
Of course, they'll be able to pay back this loan.
So a lot of this stuff comes down to a behavioral analysis.
And that's what is really different here.
I mean, for decades, large lenders the size of Discover and most U.S.
banks, they primarily relied on credit reports and credit scores to determine whether to approve people for loans.
These companies are still using all that data.
But increasingly, a number of large lenders are moving towards using so-called alternative data, data that can give you more insights into the likelihood that somebody is going to repay the loan that they're applying for.
This effort is primarily a way for Discover to root out risk, to find applicants who maybe it would approve with the underwriting standards it has had all along.
and to use this extra data that would help it determine, well, wait a minute, somebody who looks pretty credit worthy, actually, when we look at this additional data, there's some red flags here.
Maybe we shouldn't approve them.
And really the problems that Discovered is dealing with in the personal loan world are pretty emblematic of what's going on in the personal loan industry.
Showing 101–120 of 201 · page 6 of 11
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