Six Biggest Problems with Alternative Data

November 8, 2018

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MONTHLY ANALYSIS

In the US, approximately 25% of consumers are considered thin-file because they have fewer than five items in their traditional credit histories. About 7% are a no-hit (records other than the five items of the traditional framework) and 9% are completely invisible – they have no record of credit. Globally, about 1.7 billion adults remain unbanked – without an account at a financial institution or through a mobile money provider.

One of the problems with extending financial access is the lens through which the formal financial system assesses one’s creditworthiness. Lenses ...

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