Co-founder and Chief Executive Officer Aneesh Varma said: “It’s a huge step for us and also for credit scoring. We strongly believe that lenders and their customers need a fairer and more accurate way to assess creditworthiness. That means credit scores need to be more relevant to how we live and work today. Many of us will end up being mobile or self-employed which the current credit risk-scoring system will have to recognise. What feels like the fringes today will become the norm tomorrow.
Aire will work with a select number of lending partners in each category. The company is currently focused on partnerships with lenders in personal loans and credit cards but has plans to expand to broader financial products.