THE ROAD TO FINANCIAL INCLUSION
Incorporating alternative data sources into the decisioning process can help Financial Institutions develop a win-win financial inclusion strategy.
For financial institutions (FIs), consumer expectations surrounding social responsibility show no sign of waning. Coupled with regulatory pressure for financial inclusion, adopting a strategy to bolster offerings for no-file and thin-file consumers is inevitable.
“Credit Invisibles. The Road to Financial Inclusion.” examines the role of alternative credit data in financial inclusion strategies. Enhancing the credit decisioning process with additional data sources could result in millions of consumers who could qualify for conventional credit.
Learn how incorporating alternative credit data into financial inclusion strategies can help:
- Improve Risk Management
- Enhance Portfolio Growth
- Develop New Market Segments
- Optimize Credit Modeling
“It’s in both of our interests for Financial Institutions to get a ‘yes’ for thin file customers – but for a product they can afford and meets their needs.”
Best practices for financial institutions to prepare for the impacts of a recession. It includes tips for modernizing collections technology to reduce charge-offs, managing risk with data, optimizing the bank customer experience, and more.
Using alternative credit data to increase access to the financial system benefits financial institutions and credit invisible consumers.