Skip to main content

FICO To Incorporate Buy-Now-Pay-Later Loans Into Credit Scores

1 month 2 weeks ago
FICO credit scores will begin incorporating buy-now-pay-later data for the first time. From a report: With over 90 million Americans expected to use BNPL for purchases this year, critics argue that existing credit scores paint an incomplete picture of an individual's ability to pay back loans. Fair Isaac Corp., which runs FICO, said Monday that it will launch two separate credit scores including BNPL data. FICO Score 10 BNPL and FICO Score 10 T BNPL will "represent a significant advancement in credit scoring, accounting for the growing importance of BNPL loans in the U.S. credit ecosystem," the company said in a statement. "These scores provide lenders with greater visibility into consumers' repayment behaviors, enabling a more comprehensive view of their credit readiness which ultimately improves the lending experience," FICO added.

Read more of this story at Slashdot.

msmash

DeepSeek Aids China's Military and Evaded Export Controls, US Official Says

1 month 2 weeks ago
An anonymous reader shares a report: AI firm DeepSeek is aiding China's military and intelligence operations, a senior U.S. official told Reuters, adding that the Chinese tech startup sought to use Southeast Asian shell companies to access high-end semiconductors that cannot be shipped to China under U.S. rules. The U.S. conclusions reflect a growing conviction in Washington that the capabilities behind the rapid rise of one of China's flagship AI enterprises may have been exaggerated and relied heavily on U.S. technology. [...] "We understand that DeepSeek has willingly provided and will likely continue to provide support to China's military and intelligence operations," a senior State Department official told Reuters in an interview. "This effort goes above and beyond open-source access to DeepSeek's AI models," the official said, speaking on condition of anonymity in order to speak about U.S. government information. Chinese law requires companies operating in China to provide data to the government when requested. But the suggestion that DeepSeek is already doing so is likely to raise privacy and other concerns for the firm's tens of millions of daily global users.

Read more of this story at Slashdot.

msmash