Elevate Credit launches Elevate Labs
Elevate Credit announced the launch of Elevate Labs at its new San Diego-based Advanced Analytics center. "The center of excellence underscores the company's commitment to innovation in the non-prime credit market," the company says. Elevate's technology and proprietary risk analytics are optimized to help non-prime consumers meet their immediate financial needs while improving their financial futures. The company annually invests $40M in its technology and analytics capabilities, including substantial investments in its proprietary IQ and DORA risk technology and analytics platforms, to support rapid scaling and innovation, robust regulatory compliance and ongoing improvements in underwriting. DORA, Elevate's proprietary risk analytics platform, utilizes a terabyte-scale Hadoop database composed of thousands of elements, 1.5M customer records and other wide-ranging data inputs including credit bureau data, web behavioral and performance data, bank account data and other non-traditional data, to accurately assign risk to customers.