Weekly Wrap: Affirm’s loan strategy, and new tech to reach the underbanked

Affirm is pushing further into new loans after an initial pullback during the early days of the COVID-19 pandemic. “We feel there is in fact a broader product fit for e-commerce-based, point-of-sale lending across the entire consumer segment than what we used to see pre-COVID,” said Sandeep Bhandari, chief strategy and risk officer at Affirm. Fintechs like Nova Credit and CredoLab, meanwhile, are using new technology to reach underbanked consumers. Find this and more in today’s edition of the Weekly Wrap, featuring JJ Hornblass, Bianca Chan and Rick Morgan for the week ending Oct. 2, 2020.