AI-powered fintech apps are disrupting finance industry with platforms like Affirm and Upstart Holdings.

From Investing.com: 2024-12-06 11:25:00

Consumers are turning to AI-powered fintech apps to manage finances more efficiently, disrupting the finance sector. Affirm’s buy-now-pay-later platform offers a win-win solution for merchants and consumers during the busy holiday shopping season. Affirm’s AI algorithms analyze creditworthiness for instant lending decisions, boosting conversion rates for merchants. Despite not yet reaching profitability, Affirm reported strong revenue growth and expects another record holiday shopping season. Upstart Holdings provides AI-powered personal loans with quick decisions based on 1,600 variables, catering to borrowers with limited credit history. With the Federal Reserve interest rate cut cycle, Upstart anticipates growth in loan originations.



Read more at Investing.com: 2 AI-Powered Platforms Disrupting the Finance Industry