Acima Credit, LCC is a company that offers consumer finance services. It is headquartered in Sandy, a city in the state of Utah. The company was founded in the year 2013 by a man named Aaron Allred. He presently serves as the chief executive officer of the company.
Its products serve as alternatives to conventional consumer lending. The company offers PoS (Point of Sale) financing solutions. These “non-credit-needed” solutions are offered to customers for the purposes of purchases at retail PoS locations. Such a type of financing is one where customers’ credit score is not taken as a basis for qualification. Much like “No Credit Required”, this process of financing does not depend on credit scores of customers for approval.
In the past, Acima used to underwrite based on a credit score card, but now it makes use of machine learning technology and has a team of data scientists to make its underwriting decisions. Much like many other financial services companies, it also eschews traditional processes which involve measuring one’s credit score. The company’s proprietary underwriting process is powered by artificial intelligence (AI) software, technologists, as well as support staff. The PoS financing helps US consumers in markets that are economically vulnerable, by giving resources which they require.