Japan’s Seven Bank taps customer purchase histories for loan screening #JapanFinance

TOKYO — The banking arm of the 7-Eleven chain in Japan will start using purchase histories as a factor in determining approval for people seeking small loans, a move it says will help gig economy workers and others who lack a steady flow of income.

Called card loans in Japan, these unsecured loans are similar to cash advances and provided to individuals who apply on ATMs or an app.