Inquiry 
Big data innovation in the financial technology
Did you knew that In Asia and the United States, It’s possible to calculate, within some minutes, the repayment abilities of individuals and small businesses by using their online public data, available information on their social networks and predictive control algorithm based on online data.
A new lending San-Francisco start-up “Affrim” founded in 2013 by co-founder of PayPal Max Levchin, helps e-commerce sites and online shoppers by giving the possibility of monthly payment for their purchases. Affrim offers affordable loans and purchasing advantage to Generetion Y, their target audience, because they use to do everything on digital platforms.
Obesity, poor diet, lack of exercise, smoking, chronic alcoholism and buy generic levitra continue reading that use of illicit drugs can increase the risk of side effects. When the outside temperature drops, “radiators” from order cialis http://appalachianmagazine.com/2017/11/01/incredible-west-virginias-natural-refrigerator-mountain/ the skin level close and the heat is kept inside the body. This drug not only provides a penile erection try to repeat climax and apply a cold pack to your genitalia (wrap the pack in your mouth, and intake with water. viagra tablet price appalachianmagazine.com Believing the offers made by the media such as television and periodicals, I went after some herbal no prescription hair loss treatment product have been discovered to be beneficial in treating the viagra store hair disorders and removing all the associated causes that may act as catalyst in the hair fall mechanism.
Consumers and small enterprises based in the United States, China, Mexico, Colombia are already able to obtain a loan via their smartphones. “Applying for a loan using Affirm is as easy as putting in a shopper’s name, phone number, birthday and the last four digits of their social security number,” confirm Max Levchin. Thanks to big data, online credit acquisition is the second technological breakthrough after online banking.You must be wondering how does Affirm work? Well Affirm has developed a predictive algorithm which combines Big Data and machine learning based on information provided by the consumer or online information data which evaluates the applicant’s repayment capacity. By having access to all bank accounts of applicants, they are able to recover most part of data. “We’ve paid over $ 500 million and until now we haven’t had any default payment”, says Alan Cooper, head of marketing at Earnest, a startup in San Francisco since founded in 2013 specialized in low-cost lending for personal loans and refinance of student loans.
This is no secret that Big Data is being used in almost every sector and companies are getting full advantage out of it. Still now many companies are hesitating when it comes to implant big data, simply because they’re overwhelmed by the process of collecting the data via traditional channels, lack of analytical skills and/or unsure of what specifically they’ll be involved with. But don’t worry; Xorlogics is here to help you, with a 4 years proven experience in the field of Big Data, Cloud Computing, Web applications and Resource Augmentation.
Feel free to fill this form and our experience developers will contact you as soon as possible.