--- title: "Meaning & Key Takeaway of: Let's look at lending, where they're…" description: "\"Let's look at lending, where they're using big data for the credit side. And it's just credit data enhanced, by the way, which we do, too. It's nothing..." image: "https://sms4smile.com/quotes/i/27f/jamie-dimon-1320_bigs_let-s-look-at-lending-where-they-re-usin_3129002.jpg" --- # Let's look at lending, where they're using big data for… ![“Let's look at lending, where they're using big data for the credit side. And it's just credit data enhanced, by the way, which we do, too. It's nothing mystical. But they're very good at reducing the pain points. They can underwrite it quicker using - I'm just going to call it big data, for lack…” quote by Jamie Dimon](https://sms4smile.com/quotes/i/27f/jamie-dimon-1320_bigs_let-s-look-at-lending-where-they-re-usin_3129002.jpg) [Download](https://sms4smile.com/quotes/i/27f/jamie-dimon-1320_bigs_let-s-look-at-lending-where-they-re-usin_3129002.jpg) [Open image](https://sms4smile.com/quotes/i/27f/jamie-dimon-1320_bigs_let-s-look-at-lending-where-they-re-usin_3129002.jpg) > “Let's look at lending, where they're using big data for the credit side. And it's just credit data enhanced, by the way, which we do, too. It's nothing mystical. But they're very good at reducing the pain points. They can underwrite it quicker using - I'm just going to call it big data, for lack of a better term: "Why does it take two weeks? Why can't you do it in 15 minutes?"” [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Big data stream credit underwriting, cutting processing time from weeks to minutes, but the term is vague. **In simple terms:** Big data speeds up loans, but the label is unclear. Key Takeaway Adopt clear terminology for tech in finance. Themes financial technology big data credit underwriting process efficiency industry jargon Mood pragmatic critical Type business technology When to use this quote - loan approvals - banking operations - customer service - regulatory compliance Key Concepts data analytics risk assessment automation Questions to Reflect On - What risks arise from rapid automation? - How can transparency be improved? A Different Perspective Overreliance on data may overlook human judgment. ★ ★ ★ ★ ★ No ratings yet [Bigs](https://sms4smile.com/quotes/about/bigs/) [Credit](https://sms4smile.com/quotes/about/credit/) [Credit Data](https://sms4smile.com/quotes/about/credit-data-5526523/) [Credit Just](https://sms4smile.com/quotes/about/credit-just-901191/) [Data](https://sms4smile.com/quotes/about/data/) [Data Credit](https://sms4smile.com/quotes/about/data-credit-5526524/) [Doe](https://sms4smile.com/quotes/about/doe/) [Lending](https://sms4smile.com/quotes/about/lending/) [Lending Using](https://sms4smile.com/quotes/about/lending-using-5526525/) [Looks](https://sms4smile.com/quotes/about/looks/) [Minutes](https://sms4smile.com/quotes/about/minutes/) [Mystical](https://sms4smile.com/quotes/about/mystical/) [Pain](https://sms4smile.com/quotes/about/pain/) [Reducing](https://sms4smile.com/quotes/about/reducing/) [Sides](https://sms4smile.com/quotes/about/sides/) [Term](https://sms4smile.com/quotes/about/term/) [Two](https://sms4smile.com/quotes/about/two/) [Two weeks](https://sms4smile.com/quotes/about/two-weeks/) [Very good](https://sms4smile.com/quotes/about/very-good/) [Way](https://sms4smile.com/quotes/about/way/) [Week](https://sms4smile.com/quotes/about/week/) ## Related quotes > [If you see a credit with just my name on it, that means I write absolutely everything: rhythm guitar parts, guitar melodies, vocal melodies...…](https://sms4smile.com/quotes/steve-harris/if-you-see-a-credit-with-just-my-name-on-it-that-means-i-write/) [Steve Harris](https://sms4smile.com/quotes/author/steve-harris/) > [You can buy almost anything anyplace in the world. You can get it delivered in 24 hours. You can pay for it on credit…](https://sms4smile.com/quotes/michael-bloomberg/you-can-buy-almost-anything-anyplace-in-the-world-you-can-get-it/) [Michael Bloomberg](https://sms4smile.com/quotes/author/michael-bloomberg/) > [I think sometimes we give people a lot of credit just because they're writing nice sentences even if it isn't adding up to much.](https://sms4smile.com/quotes/james-patterson/i-think-sometimes-we-give-people-a-lot-of-credit-just-because-they-re/) [James Patterson](https://sms4smile.com/quotes/author/james-patterson/) > [I always credit; I never just steal something. I'm very much a product of everything that I've read and seen and heard or listened…](https://sms4smile.com/quotes/moyra-davey/i-always-credit-i-never-just-steal-something-i-m-very-much-a-product/) [Moyra Davey](https://sms4smile.com/quotes/author/moyra-davey/) > [It's time to step your game up. Gotta run your credit just to bring my name up.](https://sms4smile.com/quotes/rick-ross/it-s-time-to-step-your-game-up-gotta-run-your-credit-just-to-bring-my/) [Rick Ross](https://sms4smile.com/quotes/author/rick-ross/) > [More people are working, lending is up and savings are up. These are all positive signs for a strengthening economy.](https://sms4smile.com/quotes/jamie-dimon/more-people-are-working-lending-is-up-and-savings-are-up-these-are/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [A lot of these things have hurt the average American. When they look at the banks and they say, "Well, the bank's talking its…](https://sms4smile.com/quotes/jamie-dimon/a-lot-of-these-things-have-hurt-the-average-american-when-they-look/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [Tis moonlight, summer moonlight, All soft and still and fair; The solemn hour of midnight Breathes sweet thoughts everywhere, But most where trees are…](https://sms4smile.com/quotes/emily-bronte/tis-moonlight-summer-moonlight-all-soft-and-still-and-fair-the-solemn/) [Emily Bronte](https://sms4smile.com/quotes/author/emily-bronte/) > [“There’s a best time for everything – including the acquisition of capital.”](https://sms4smile.com/quotes/hendrith-vanlon-smith-jr/there-s-a-best-time-for-everything-including-the-acquisition-of/) [Hendrith Vanlon Smith Jr](https://sms4smile.com/quotes/author/hendrith-vanlon-smith-jr/) > [If you are in banking and lending, surprise outcomes are likely to be negative for you.](https://sms4smile.com/quotes/nassim-nicholas-taleb/if-you-are-in-banking-and-lending-surprise-outcomes-are-likely-to-be/) [Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/) > [The Rothschilds, and that class of money-lenders of whom they are the representatives and agents - men who never think of lending a shilling…](https://sms4smile.com/quotes/lysander-spooner/the-rothschilds-and-that-class-of-money-lenders-of-whom-they-are-the/) [Lysander Spooner](https://sms4smile.com/quotes/author/lysander-spooner/) > [There are clear patterns of discrimination against Blacks and Latinos. The big banks targeted Blacks and Latinos with toxic packages of subprime predatory lending.](https://sms4smile.com/quotes/jesse-jackson/there-are-clear-patterns-of-discrimination-against-blacks-and-latinos/) [Jesse Jackson](https://sms4smile.com/quotes/author/jesse-jackson/) > [I am asking my Attorney General to create a special unit of federal prosecutors and leading state attorneys general to expand our investigations into…](https://sms4smile.com/quotes/barack-obama/i-am-asking-my-attorney-general-to-create-a-special-unit-of-federal/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) > [If you lend something you may lose it, but not if you give it. Giving is much better than Lending.](https://sms4smile.com/quotes/vikrant-parsai/if-you-lend-something-you-may-lose-it-but-not-if-you-give-it-giving/) [Vikrant Parsai](https://sms4smile.com/quotes/author/vikrant-parsai/) > [The everlasting universe of things Flows through the mind, and rolls its rapid waves, Now dark--now glittering--now reflecting gloom-- Now lending splendour, where from…](https://sms4smile.com/quotes/percy-bysshe-shelley/the-everlasting-universe-of-things-flows-through-the-mind-and-rolls/) [Percy Bysshe Shelley](https://sms4smile.com/quotes/author/percy-bysshe-shelley/) ## More by Jamie Dimon > [I think if we had another set of policies for - not the crisis years, but after that, that we might be growing faster.…](https://sms4smile.com/quotes/jamie-dimon/i-think-if-we-had-another-set-of-policies-for-not-the-crisis-years/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [I learn from all our major competitors, whether they're in or out of the U.S. Wells Fargo is very actively, very aggressively, and very…](https://sms4smile.com/quotes/jamie-dimon/i-learn-from-all-our-major-competitors-whether-they-re-in-or-out-of/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [The United States has the best, deepest, widest, and most transparent capital markets in the world which give you, the investor, the ability to…](https://sms4smile.com/quotes/jamie-dimon/the-united-states-has-the-best-deepest-widest-and-most-transparent/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [People always say to me, "What if it doesn't work?" If it doesn't work, we redouble our effort. We're not going to cry like…](https://sms4smile.com/quotes/jamie-dimon/people-always-say-to-me-what-if-it-doesn-t-work-if-it-doesn-t-work-we/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [We've made a huge effort globally and in the US, in getting kids jobs. This is one piece. The South Bronx and inner-city schools…](https://sms4smile.com/quotes/jamie-dimon/we-ve-made-a-huge-effort-globally-and-in-the-us-in-getting-kids-jobs/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [You know, the benefit in life is to say, 'Maybe you made a mistake, let's dig deep.](https://sms4smile.com/quotes/jamie-dimon/you-know-the-benefit-in-life-is-to-say-maybe-you-made-a-mistake-let-s/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [JP Morgan always has higher capital liquidity, that is partially to make up for mistakes and problems and obviously its a tough economy. We…](https://sms4smile.com/quotes/jamie-dimon/jp-morgan-always-has-higher-capital-liquidity-that-is-partially-to/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [Trade is very good for the country. It's very good for the GDP. It's good for wages, but it doesn't mean it's always good…](https://sms4smile.com/quotes/jamie-dimon/trade-is-very-good-for-the-country-it-s-very-good-for-the-gdp-it-s/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [I've asked our people, "Why don't we just put a revolver on top of our basic loan?" Make it easier for the client.](https://sms4smile.com/quotes/jamie-dimon/i-ve-asked-our-people-why-don-t-we-just-put-a-revolver-on-top-of-our/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [As a matter of fact 25% of our U.S. investment banking business comes out of our commercial bank. So it's a competitive advantage for…](https://sms4smile.com/quotes/jamie-dimon/as-a-matter-of-fact-25-of-our-u-s-investment-banking-business-comes/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [ Not every company went bankrupt. Not every bank needed TARP \[Troubled Asset Relief Program\]. So I'm very proud that JPMorgan, throughout that time period,… ](https://sms4smile.com/quotes/jamie-dimon/not-every-company-went-bankrupt-not-every-bank-needed-tarp-troubled/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [I do want the tax system to be efficient and be conducive to growth, which it is not.](https://sms4smile.com/quotes/jamie-dimon/i-do-want-the-tax-system-to-be-efficient-and-be-conducive-to-growth/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [ There are parts \[in Dodd-Frank\] that I don't agree with. But, in total, it is what it is. ](https://sms4smile.com/quotes/jamie-dimon/there-are-parts-in-dodd-frank-that-i-don-t-agree-with-but-in-total-it/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [It's good for America when the rest of the world grows, because you can sell more to the rest of the world.](https://sms4smile.com/quotes/jamie-dimon/it-s-good-for-america-when-the-rest-of-the-world-grows-because-you/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [We had a lot of gridlock on a lot of issues. But, the American system is pretty resilient.](https://sms4smile.com/quotes/jamie-dimon/we-had-a-lot-of-gridlock-on-a-lot-of-issues-but-the-american-system/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) [Explore all 257 Jamie Dimon quotes ](https://sms4smile.com/quotes/author/jamie-dimon/) ## More Bigs quotes > [I am certain that children always know more than they are able to tell, and that makes the big difference between them and adults,…](https://sms4smile.com/quotes/jacques-lusseyran/i-am-certain-that-children-always-know-more-than-they-are-able-to/) [Jacques Lusseyran](https://sms4smile.com/quotes/author/jacques-lusseyran/) > [It is said that history turns on small hinges. 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Now the hardest part about the…](https://sms4smile.com/quotes/kim-alexis/the-biggest-change-for-me-as-a-mom-was-realizing-i-needed-to-put/) [Kim Alexis](https://sms4smile.com/quotes/author/kim-alexis/) > [I'm a big fan of all the Boston guys that are acting - Matt Damon , Ben Affleck, Mark Wahlberg - they made a…](https://sms4smile.com/quotes/kenny-wormald/i-m-a-big-fan-of-all-the-boston-guys-that-are-acting-matt-damon-ben/) [Kenny Wormald](https://sms4smile.com/quotes/author/kenny-wormald/) > [The only regret I have in my career, is my managers wanted a big payday, and I wanted four or five more fights before…](https://sms4smile.com/quotes/gerry-cooney/the-only-regret-i-have-in-my-career-is-my-managers-wanted-a-big/) [Gerry Cooney](https://sms4smile.com/quotes/author/gerry-cooney/) > [It goes to show you how we in the press so often miss the big stories that are right under our noses. There is…](https://sms4smile.com/quotes/roger-ebert/it-goes-to-show-you-how-we-in-the-press-so-often-miss-the-big-stories/) [Roger Ebert](https://sms4smile.com/quotes/author/roger-ebert/) > [Okay, so I'll admit I'm curious. Big deal. We both know what that leads to. Dead cat.](https://sms4smile.com/quotes/susan-elizabeth-phillips/okay-so-i-ll-admit-i-m-curious-big-deal-we-both-know-what-that-leads/) [Susan Elizabeth Phillips](https://sms4smile.com/quotes/author/susan-elizabeth-phillips/) > [I don't want this to be a distraction. This has been distracting enough. I'm not going to rehash this going forward. I'm sure other…](https://sms4smile.com/quotes/jayson-werth/i-don-t-want-this-to-be-a-distraction-this-has-been-distracting/) [Jayson Werth](https://sms4smile.com/quotes/author/jayson-werth/) > [I didn't get how big it was until I went home, turned on the television and saw it on all the news, and later…](https://sms4smile.com/quotes/paul-simon/i-didn-t-get-how-big-it-was-until-i-went-home-turned-on-the/) [Paul Simon](https://sms4smile.com/quotes/author/paul-simon/) > [It’s a small thing to help one animal, but to that one animal it’s a big thing](https://sms4smile.com/quotes/gene-baur/it-s-a-small-thing-to-help-one-animal-but-to-that-one-animal-it-s-a/) [Gene Baur](https://sms4smile.com/quotes/author/gene-baur/) > [Since I was a little child, my nose - I think it's too big.](https://sms4smile.com/quotes/celine-dion/since-i-was-a-little-child-my-nose-i-think-it-s-too-big/) [Celine Dion](https://sms4smile.com/quotes/author/celine-dion/) > [People forget that there is a big difference between coercion and persuasion. The idea that evangelism is coercive is nonsense.](https://sms4smile.com/quotes/mark-dever/people-forget-that-there-is-a-big-difference-between-coercion-and/) [Mark Dever](https://sms4smile.com/quotes/author/mark-dever/) > [I turn a lot of stuff down - big, big movies, the kind I wouldn't want to go to the cinema to see.](https://sms4smile.com/quotes/matthew-fox/i-turn-a-lot-of-stuff-down-big-big-movies-the-kind-i-wouldn-t-want-to/) [Matthew Fox](https://sms4smile.com/quotes/author/matthew-fox/) > [I got in trouble my whole life for having a big mouth.](https://sms4smile.com/quotes/steven-tyler/i-got-in-trouble-my-whole-life-for-having-a-big-mouth/) [Steven Tyler](https://sms4smile.com/quotes/author/steven-tyler/) [Browse all 15,539 Bigs quotes ](https://sms4smile.com/quotes/about/bigs/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Let's look at lending, where they're using big data for the credit side. And it's just credit data enhanced, by the way, which we do, too. It's nothing mystical. But they're very good at reducing the pain points. They can underwrite it quicker using - I'm just going to call it big data, for lack of a better term: \"Why does it take two weeks? 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