Fintechs have touted the importance of cashflow data in underwriting. This week, the CFPB published their evidence to support the approach.
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
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.
Alternative data could be critical to financial inclusion, but industry experts say it isn't all plain sailing. Find out why.
The desire for increased financial inclusion is a primary driver behind the increased use of alternative data in lending decisions, a new report from LexisNexis Risk Solutions finds.
People with higher credit scores are more likely to have grown up in an environment where they learned how to use credit to their advantage.
At the recent Fintech Nexus USA conference, Isabelle sat down with Lauren Crossett of Pinwheel to talk about using alternative data.
The US is ranked highly for financial inclusion, but it faces dropping further amidst waning Government and Employer support.
Freddy Kelly is the CEO and co-founder of Credit Kudos; Credit Kudos is an alternative credit bureau that uses open...
The New York Department of Financial Services is allowing life insurers to use nontraditional data in order to determine premium...