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Mizuho, SoftBank tap AI for consumer loan screening

Lender to look at earning potential to lure younger customers

An applicant must have a credit score of at least 600 to qualify for a loan.

TOKYO -- A consumer lender owned by SoftBank Group and Mizuho Bank on Monday launched a loan service that uses artificial intelligence to assess applicants' repayment ability, targeting young customers via easier access to borrowing.

The service by J.Score, a 50-50 joint venture of SoftBank and the Mizuho Financial Group banking unit, computes an individual's credit score via 18 questions regarding age and education, among others. 

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