Data Analytics for the Underserved

Panelists include: David Shellenberger, FICO; Jeff Stewart, Lenddo; Moderator: Ankush Tewari, LexisNexis Risk Solutions.

Lenddo operates in emerging markets to help their clients administer financial services; FICO is well known for their FICO scores but is also active in financial inclusion and leverages alternative data in the US and abroad; similar conditions like the Fair Credit Reporting and Equal Credit Opportunity Act don't exist in emerging markets which means there is a lot more technology that can be applied to these markets; panelists share how they think about underwriting when they don't necessarily know the borrower; both companies use different types of data sources including non financial data to confirm the identity of a potential borrower; mobile devices are especially helpful to Lenddo for confirming identity; one major difference in emerging markets is that data to underwrite is supplied by the consumer by opt-ins as opposed to relying on third party authoritative sources.