Envestnet | Yodlee discusses their recent webinar Leveraging Alternative Data to Energize Your Lending Portfolio; speakers included Jason O’Shaughnessy, Senior Vice President, EMEA & Australia, Envestnet | Yodlee; Phil Grady, CEO of Castlight Financial; Roger Vincent, Head of Banking & Innovation, Equifax; and Venkat Srinivasan, Head of Lending for Monzo; Gary Wright, Director of Content, Finextra moderated the webinar; the on-demand webinar is available for those that missed the live event. Source
Indian banks are working with fintech startups to develop technology similar to what is used in markets like Africa and China; the banks hope to use social data and online shopping habits to underwrite borrowers; FICO recently began to offer credit scores in India using alternative data and there are many startups working on similar efforts. Source
There are many consumers who have a thin credit file or no credit history at all; a new bill called...
Fiserv unveils new digital mortgage product, giving credit unions a leg up With the $3 billion alternative data industry exploding,...
Freddy Kelly is the CEO and co-founder of Credit Kudos; Credit Kudos is an alternative credit bureau that uses open...
Only 25 percent of the Chinese population is considered to have a traditional credit score; for non bank lenders gathering alternative data like transactions and social media has helped them to identify potential borrowers who the banks will not serve; Ant Financial has built out Sesame Credit who gathers this type of data and other online lenders have also begun using different data pieces to assess risk. Source.
[Editor’s note: This is a guest post from David Lin, Head of Credit at PayU. David is an experienced FinTech risk executive...
The New York Department of Financial Services is allowing life insurers to use nontraditional data in order to determine premium...
Sens. Sherrod Brown, D-Ohio, Elizabeth Warren, D-Mass., and three other Democratic senators sent a letter to Upstart Network and other...
Lenders today have a credit blind spot; this is because of the provision in the government stimulus package that allows...