Auto lenders have been using the venerable FICO score to gauge customers’ creditworthiness for decades. But there’s a new kid in town: artificial intelligence (AI). And using it to assess credit risk can boost dealership sales by finding more customers that are eligible for loans – customers that would normally be disqualified by traditional credit-scoring methods. Here Amitay Kalmar, the Chief Executive Officer of Lendbuzz, a leading financial technology firm, explains how AI is changing the credit-assessment landscape – and how that can benefit dealers.
