No need to make too many assumptions about Afterpay's proprietary repayment checks, there's plenty of hard data out there, which substantiates that you are 100% correct.
Cumbersome credit checks are less efficient and less effective. The only reason that they still exist is because banks and traditional lenders are slow to innovate. Over time (could be 10 or 20 years), traditional credit checks will be completely extinct. They will be replaced by the types of dynamic technology checks utilised by Afterpay and many other fintechs, which leverage the power of AI.
Another interesting slide from the same presentation is this one:
The presentation is 2 year old. In the next 2-3 years, Afterpay will have many of these features of a "digital wallet".
APT Price at posting:
$99.44 Sentiment: Buy Disclosure: Held
