The insurance industry is known to utilize advanced analytics for underwriting. However, the challenge has always been accessing credible data sources that churn out meaningful insights.
A sector thrives when it's in tune with how value is created and delivered. Traditional banking systems were built for transaction processing and not for customer intelligence.
Trying to understand a customer’s portfolio health by looking at isolated metrics like repayment history or account balance is as futile as understanding a person’s vitals by looking at their temperature alone.
The success of digital lending hinges on understanding these credit behaviors. The AA framework opens unprecedented access to the rich financial data stream, which, when properly used, can transform lending decisions.
Find top concerns related to lending fraud. How the account aggregators framework will counter lending frauds and create a better lending ecosystem