The force behind a finance technology that gives immigrants one simple but powerful tool: a credit score.
For generations, those without access to banks and credit cards have depended on one another for loans and funding. As a result, millions of immigrants don’t have a credit score, even though they have plenty of credit history. “People were involved in very informal lending circles,” says José Quiñonez, chief executive officer of Mission Asset Fund. “We thought we could create a process to formalize that lending so that we could report it to the credit bureaus.”
Denne historien er fra June 11, 2018-utgaven av Bloomberg Businessweek.
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Denne historien er fra June 11, 2018-utgaven av Bloomberg Businessweek.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Instagram's Founders Say It's Time for a New Social App
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How Noma Will Blossom In Kyoto
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The Last-Mover Problem
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Tick Tock, TikTok
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Cleaner Clothing Dye, Made From Bacteria
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Pumping Heat in Hamburg
The German port city plans to store hot water underground and bring it up to heat homes in the winter
Sustainability: Calamari's Climate Edge
Squid's ability to flourish in warmer waters makes it fitting for a diet for the changing environment
New Money, New Problems
In Naples, an influx of wealthy is displacing out-of-towners lower-income workers
