What does Alternative Data prove?

Fintech is doing an excellent job of mining new data sources from social media, mobile transactions and trade data.

Alternative data, or ‘unstructured data’, refers to the non-traditional data beyond the typical financial sources such as payment history. The rise in the use of alternative data has enabled financial institutions, including banks to shape better decision making and credit assessment.

With the underserved or un-banked desperate for credit inclusion, lenders must identify alternative data sources and be able to properly analyze this information to delivery transparent scoring in order for the data to be reliable.

The core repayment and payment history data, sourced from the credit bureau, that financial institutes have historically relied upon, are highly predictive and have been critical in supporting banks to digitize their processes, drive efficiencies and deliver fast service.

Heading innovation with fintech, Creditinfo’s data scientists combine different statistical methods to incorporate:

• Psychometric profiles
• SME financials
• e-Wallet
• Device Data
• Telco and more

Creditinfo has the experience and technology to distribute and structure these additional layers of complex data, something that remains a challenge to many users of alternative data. By incorporating our secure API technology we can ensure to make accurate risk assessments that facilitate credit decisions to be made in fractions of seconds.

Alternative data may never replace formal credit sourcing systems, but Lenders in the Middle East can make sure they have Alternative data in place to improve financial inclusion and lenders that do leverage it will have a competitive edge over those replying strictly on traditional metrics.

Are You Interested?

Credit providers in the Middle East can now make even better-quality prediction of risk when assessing new loans, leading to faster decisions, responsible lending, and growth in portfolio!

EMAIL Gary Brown – g.brown@creditinfo.com
OR CALL +968 95659847 for information on how best this product can be tailored for your needs.