As the end of pandemic stimulus and rising inflation led delinquency rates to normalize, investors shunned the fintech asset-backed security (ABS) market late last year. Fintech companies like Upstart, Affirm, and OneMain Financial now say they are boosting credit quality, and these efforts appear to be wooing back some ABS investors.
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Analysis: Fintech lenders tighten lending standards, bolstering debt financing
"As delinquencies have risen over the past year and a half, we've adjusted accordingly in how we calibrate our models and assess default risk," said Upstart CFO Sanjay Datta.
