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- 2 months later......
- This is a risky profile with many missing information and no credit history
- I have a new renovation loan to review. Looks like this applicant did not meet our credit criteria
- XXX Digital Bank : Renovation loan
- James Unverifiable
- It has been 2 hours verifying his data ,I wish there is a technology that can automate this inefficient process
- Me too, Let me take a look.
- XXX Digital Bank : Renovation loan
- I have received so many applicants with thin credit file the past few days. What should we do?
- James Unverifiable
- Have you heard of alternative data?I recently read an article on alternative data. Look it up.
- It has been 1 month and our loan approval rate for renovation loan is still so low. What should we do?
- 2
- Approved
- 20
- Rejected
- Office : Pain points of traditional credit analysis
- Yes, you should.
- Should we propose the idea using of alternative data to perform credit analysis ?
- What is alternative data ?refers to any data that is not directly related to a consumer’s credit behaviour
- In the afternoon.....
- Office : Pain points of traditional credit analysis
- Social Profile Data
- Transaction Data
- Rent/Utility Data
- Alternative Data
- Clickstream Data
- Social Network Data
- Since most renovation loan applicants are new to the credit system, there is not much data available for us to approve. Hence alternative data should be considered
- Office : Pain points of traditional credit analysis
- With alternative data, we are able to create a new customer segment, boost our loan process by using real-time data and enhanced the credit analysis by uncovering hidden relationships between variables that are not so obvious in traditional data
- Alternative Data
- VS
- Traditional Data
- Office : Discussing if alternative data should be used to evaluate credit risk
- Meeting Room : Proposing(why?) alternative data for credit evaluation
- Why should we use alternative data for our credit evaluation?
- Meeting Room : proposing(why?) alternative data for credit evaluation
- Sound great I approve this idea
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