When Zhou Hao returned to China after working for more than a decade on Wall Street, he was stunned to discover he could not get a personal loan from a Chinese bank. Even though Zhou held multiple gold credit cards in the United States, his loan applications were rejected because of his limited domestic financial record.Zhou, who has a doctorate in Physics from Rice University, realized not only that, due to insufficient data, the way banks had traditionally evaluated one’s financial capacity and personal credit was flawed, but also that there must be many other people struggling to obtain loa...
