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Pagaya Is Using Artificial Intelligence To Invest In Consumer Abs

by businessinsider.com posted 2weeks ago 11 views
Investing startup Pagaya says it's the first company to use artificial intelligence to source consumer asset-backed securities, a $244 billion market. In Pagaya's first push, the company raised money from Israeli and US institutional investors to buy $100 million of consumer ABS, focusing first on personal loans for borrowers with high credit scores. The company, whose chief investment officer left BlackRock last year, plans to move into other types of lending, including auto loans and corporate credit, and eventually a real estate fund – all managed through artificial intelligence. Artificial intelligence has been the topic du jour on Wall Street.

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