Electronic Times has published Yongduck Kim's analysis of Balancehero's patents and the role of AI patent protection in international fintech expansion.
In this article, we focused on the AI-based unsecured loan approval system patent registered by BalanceHero. This patent covers the limitations of traditional credit assessment methods and utilizes alternative data and machine learning techniques to ensure that users with a poor financial background are evaluated for possible loans.
Patent attorney Yongduck Kim explains how the system uses varied unstructured data to assess applicants without conventional income evidence. The column discusses access for people starting their careers, those with limited credit histories and new-to-credit (NTC) customers, as well as IP protection and regulatory considerations in overseas markets.
You can find the full article at the link below.
Read the column
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