Boston, July 13, 2021 – Recently, a bevy of additional data sources have been made available to consumer lenders that wish to supplement their use of traditional credit files and scores. As lenders increasingly see the business need for incorporating more data, they also need more advanced analytical techniques, such as AI, to parse through the increased volume of information and incorporate it in a manageable way that adds value.
This report looks at the use of alternative data and AI across all stages of the loan life cycle, from marketing to collections. It is based on Aite Group’s survey of executives at 22 depository and nondepository institutions headquartered in North America in Q4 2020 and Q1 2021. Qualitative interviews were conducted with 10 of the 22 survey respondents to get more context on survey responses. The initial report in the series described findings related to identity verification and fraud prevention, and the second report described the latest trends, challenges, and investments being made in this industry.
This 18-page Impact Report contains 10 figures and three tables. Clients of Aite Group’s Retail Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.
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Datos Insights
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