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Funding Circle's method includes a step that would be considered retrograde by fintech purists: a flesh-and-blood credit agent from the company speaks to every new borrower before a loan is disbursed.
Mr. Boisits was matched up with Mauro Medrano, 35, who had worked as a credit agent in a bank back in Honduras and now settles for "anything that comes along".
And when the credit agent giant isn't fighting the courts, federal regulators have shown little interest in pursuit of legal action.
To reduce transaction costs, repayments were made by all the groups of the village at the same time, enabling the credit agent to come to a village, take the money, and then proceed to the next village.
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We show that introducing pro-poor incentives requires extending such audits to the level of credit agents.
Credit agents in microfinance institutions (MFIs) must be given incentives to acquire information on potential borrowers and select them in accordance with the MFI's objectives.
In a parliamentary written answer last week the employment minister Priti Patel said that 2.2m calls have been answered by universal credit agents manning an 0345 helpline.
The point is thus rather that whatever credit the agent is due for having a true belief, it is not the kind of credit that reflects a bona fide cognitive achievement because of how this cognitive success involves 'piggy-backing' on the cognitive efforts of others.
The latter includes conference organisers, credit rating agents, business consultants and literary agents.
(Fuesel was too young to have met Ness personally; he heard that rumor, which contradicts innumerable accounts of Ness's bravery, from old-timers). The newspapers of the time had given Ness too much credit, the agents said, while downplaying the less glamorous role that the IRS played in bringing Capone to justice.
Curtis credits his agent -- the legendary Lew Wasserman -- for "creating" and helping him.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com