By Saul Fine is Founder, Chief Scientist & CEO of Innovative Assessments More and more lenders around the world are using alternative data to improve their credit models and better serve the underbanked. Alternative credit data are typically derived from non-traditional sources of financial-related information, such as mobile/internet transactions and payments. But these data can also be non-financial in nature, and as such, provide lenders with a very different kind of credit information. Non-financial data […]

By Bill Ready, Executive Vice-President and Chief Operating Officer, PayPal– This article is part of the World Economic Forum Annual Meeting Workers need urgent access to new types of credit and savings. Image: Unsplash   The rise of artificial intelligence (AI), machine learning (ML) and automation, the proliferation of internet-based technology platforms, and the move toward more entrepreneurial sources of income are combining to fundamentally shift the ways people work and […]

By Amy Stewart An agent for Accion Microfinance Bank in Nigeria assists a customer.  The market for lending is changing across the globe. A new category of digital lenders has emerged that uses digitized customer data, lower-cost digital channels, and advances in machine learning and analytics to offer better products to more clients in faster, more cost-efficient and engaging ways. The market opportunity is significant: the total transaction value is […]