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Business

AI to help Mizuho-SoftBank venture decide who gets loans

Smartphone-filed applications to be processed in 30 minutes

TOKYO -- Mizuho Bank and SoftBank in September will introduce a new consumer loan service that can process an application in 30 minutes -- with the help of artificial intelligence.

The AI software will consider various indicators, such as a borrower's bank and mobile phone bill records, then spit out a score indicating the borrower's creditworthiness.

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