Written by Jacqueline Reses.
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From the early days of Square, we built a discipline in data science that allowed us to take a differentiated approach to risk management, and thus reduce the barriers to entry for our sellers to accept credit cards. Our data scientists are constantly building new models, and then analyzing and acting on the data we receive — not only to manage risk, but to build new products for our sellers. This has allowed us to offer innovative financial services on top of payment processing, from Square Capital, to Instant Deposit, to Chargeback Protection, that help our sellers grow.
So we are thrilled that the Framed Data team has joined Square. Framed Data built an incredible product rooted in machine learning to help businesses predict customer engagement and prescribe marketing actions. Like Square, the Framed Data team believes that using data insights and machine learning to help customers improve their businesses creates immense value and empowers business owners to make better decisions.
The Framed Data team will work on Square Capital, building models that allow us to further extend financing to businesses, including those that would otherwise find it difficult or impossible through traditional banking. This approach helps accelerate growth for underserved businesses and empowers them to increase participation in their local economies. Welcome to the team!