Affirm rolls out transformer-based underwriting model to boost real-time checkout approvals
AFRM•Initial rollout targets higher conversion
Initial rollout targets higher conversion, with tests showing 3.4% more completed purchases versus a control group.
Transformer-based underwriting model expands real-time approvals
Affirm rolled out a transformer-based underwriting model in the U.S. to expand real-time approvals at checkout while holding risk levels steady.
The model will use event sequencing in credit histories to identify additional eligible borrowers, including consumers with limited histories or no FICO scores.
Affirm plans to pair the model with a proprietary explainability method, supported by ongoing validation and monitoring for real-time decisioning.
