Following this announcement, as a member of MoreThanFair, Affirm will join a group of industry and consumer companies, as well as civil rights organisations committed to leveraging modern technology and data science in order to make lending more inclusive, transparent, and secure.
In addition, both institutions will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
According to the official press release, MoreThanFair participants believe that access to affordable credit represents an essential feature to the quality of life for American families. As credit scores have determined who has access to credit, while also creating a system where many are left out, modern credit systems aim to develop optimsied credit outcomes that focus on inclusivity. At the same time, Affirm and MoreThanFair will prioritise the process of promoting responsible credit, choice, and transparency, as well as helping further mainstream consumer-first financial products. By using its underwriting models and maintaining disciplined credit policies, Affirm will continue to offer a flexible and secure way for customers to pay over time with no late or hidden fees.
In addition, Affirm is set to provide a new perspective on the market, which can bolster MoreThanFair’s efforts to advance faster progress toward a more inclusive and affordable credit system for all. Alongside Affirm, MoreThanFair members include American Fintech Council, Credit Builders Alliance, National Bankers Association, National Community Reinvestment Coalition, National Consumer Law Center, and Prosperity Now, as well as UnidosUS, Cross River, Esusu, LendingClub, Oportun, SolasAI, Stratyfy, Upstart, and Zest AI.
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