Lantern Credit Buys Machine Learning Technology

Newport Beach-based Lantern Credit, a fintech startup focused on the consumer credit market, said this morning that it has acquired a set of software used for machine learning. Lantern Credit said it acquired the Abstract Regression-Classification (ARC) Machine Learning Library, and also hired the creator of the software, Michael Korns, as its Chief Data Scientist. Financial details of the acquisition were not announced. Lantern Credit said Korns previously has served at such companies as IBM, Tymshare Transaction Services, Xerox Imaging and Investment Science.