Credit score based underwriting is not only slow, it’s proven to be less effective and less predictive of payback than sales based underwriting and other modern unsecured underwriting techniques. It can also be systemically discriminatory, causing incumbents to underserve large investment-grade markets.

Modern underwriting uses sales and revenue data to predict payback, underwriting decisions are accurately pre-qualified (opening the funnel), final decisions are made instantly (reducing checkout abandonment) and funds get distributed in as little as a day (improving NPS and LTV).