Data makes the lending world go round
Europe’s lending market will continue to evolve, whether as a result of new industry regulation, advances in technology or just to keep up with an ever expectant millennial market. Despite the developing needs of the borrower and the adaptable lending landscape, there is one very obvious constant: data.
Data is not a new story. we have been talking about its omnipotence in the finance sector for years. But the need to access reliable data on demand is intensifying in the lending space. Borrowers now expect their business interactions to be as fast, easy and transparent as they are in their personal lives, and regulators are asking lenders for more visibility and insight into their risk exposure.
Data itself and the way we capture, analyse and visualise it will also have to evolve with the market, particularly as the capabilities of data analytics continue to widen and the industry starts to explore the possibilities of alternative data when determining whether a borrower is low or high risk
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