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UK fintech raises £800M for AI that determines how much money you can borrow
May 7, 2024, 4:16 p.m. | Ioanna Lykiardopoulou
The Next Web thenextweb.com
An AI scanning your bank transaction data entails a level of invasiveness that I find difficult to accept — let alone embrace for my own transaction information. But the technology could bring merits, at least in the lending world. Enter Abound. The London-based startup has just raised £800mn for its lending platform that uses AI to determine loan amounts. Dubbed Render, Abound’s AI analyses customers’ full bank transaction data (from income to spending details) to understand their individual financial situation …
bank data deep tech fintech fintech and ecommerce information investors and funding least lending london money raises startup startups and technology technology transaction data world
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