New Delhi, Oct. 1 -- True Balance is expanding its use of artificial intelligence (AI) to assess thin-file borrowers, as it looks beyond conventional credit histories to evaluate consumers who can be difficult to assess through traditional lending models.

The fintech is using consent-based alternative data alongside traditional bureau scores for credit assessment. Its parent company, Afinit, and Seoul National University (SNU) have also jointly filed a patent for an AI credit-scoring technology designed to refine evaluations for customers who were previously not approved.

The development formed a key part of the Korea-India AI Financial Inclusion Conference, co-hosted by True Balance and the South Asia Center of the Asia Institute at SN...