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A Kinder, Gentler, Smarter Payday Loan
February 22, 2013

Startups are trying to reinvent the much-maligned payday loan, using Big Data to develop algorithms that can better predict who will default so they can cut the price of short-term, small-dollar credit. But consumer advocates continue to object to these products. Banks have an opportunity to partner with these new entrants, but reputational risk may discourage them from doing so.

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