I designed and facilitated CAMEO’s Microlending Summit this month. We had a great panel of new online lenders — Lend Up, Lending Club, Prosper and Accion East — along with an introduction to big data, algorithms and machine learning. I asked each panelist to describe what loan products do they offer, how do they assess applications and what technologies are they using in their process. It was an eye opener for many in the audience, who might not have been aware that the lending industry is undergoing a revolution due to technology. There are now many new, for-profit players, who move at a pace to assess and fund loans that would have been inconceivable just a couple of years ago.