Monday, August 28, 2017

Ford Runs Study With ZestFinance For Credit Approval Efforts

Ford Motor Credit Company, the auto financing arm of Ford, will implement machine learning in its credit approval models, has run a study on the effectiveness of machine learning with Los Angeles-based ZestFinance, the two said on Friday. According to the two, the two ran a study that measured the effectiveness of machine learning to better predict risk in auto financing, and found better risk prediction, opportunities to lower future credit losses significantly using ZestFinance's model. A Ford spokesperson said Ford is now developing plans to use machine learning tools to enhance its underwriting, but that it has "no deal" with ZestFinance to use its tools in that effort.