Consumer banking ica
Storyboard Text
- Sherwin is a cafe owner, due to the deterioration of Inventory he needs to take up a loan from traditional bank to purchase new inventory
- i need to buy some neew inventory, or else my cafe cannot function
- sigh.. why do i have to fill up so many details, doesnt the bank already have this info.
- in order for the loan to be approved Sherwin needs to fill up many documents, with a very long processing time to checck if the loan will be approved. without it, the business will have to close some sections
- credit analysisloam amount xxxxxxxxxxxxxxxxxxxxxxxxxxxx
- After 10 working days. Sherwin recieved an email from the bank that his loan application has been rejected as he did not have the proper financial requirements. Sherwin is worried about his cafe.
- Loan Rejecteddue to bad credit socre
- what?! how will my cafe open, should i borrow money from my brother?
- Sherwin, as a last resort ask if he can borrow money from his Brother, His Brother doesnt borrow him any and instead told sherwin to consult a data scientist.
- How about i introduce you to my friend sarah, she is a data analytics scientist
- Jarrell can i borrow money from you my loan got rejected
- Sherwin decides to approach Sarah, a data scientist in alternative solution for his Financial situation, to understand how he can get his loan approved via alternative data
- HI Sherwin, Alternative data is refering to any data that is not directly related to your credit behaviour
- Hi Sarah my name is sherwin, i would like to find out more about alternative data, how can it help my loan get approved
- Sarah explains the Strucuture of Traditional data and alternative data,
- Here we can see the main difference between the structure of Traditional VS Alternative
- alternative data the benefits and why Sherwin should adopt it in order to get a loan
- How the usage of sustainability and greeen finance can increase the chances of getting a loan
- Sherwin decided to start some of the green initiatives and sustainable approaches in his business
- sherwin loan got approved by the bank and his cafe can continue as per normal
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