RadCred Leverages AI to Revolutionize Short-Term Installment Lending
AI-Generated Summary
RadCred has launched an AI-powered platform offering short-term installment loans, providing same-day funding and soft credit checks for borrowers with poor or limited credit. This system aims to offer a safer alternative to payday loans by connecting users with licensed lenders for transparent, structured repayment plans. The platform utilizes AI to evaluate borrower data, ensuring inclusive approvals and promoting responsible lending practices.
In a nutshell
This development highlights how AI is being applied to address critical gaps in consumer finance, particularly for underserved populations, by increasing accessibility and transparency in lending. RadCred's model demonstrates AI's potential to drive FinTech innovation and establish more responsible practices within the lending industry.
Source: The Manila Times
