Ueda, Ken; Zhang, Yan; Zhao, Xinlei Shelly - 2023
Using unsecured personal loans from a credit bureau, we find that fintech firms bring lower borrower costs than the traditional lenders (i.e., banks and credit unions) in the medium to high credit score segments (i.e., credit score 670). Among subprime borrowers (i.e., credit score 670), fintech...