{"id":14002,"date":"2019-11-12T11:36:31","date_gmt":"2019-11-12T11:36:31","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=14002"},"modified":"2019-11-12T11:36:31","modified_gmt":"2019-11-12T11:36:31","slug":"financial-institutions-turning-to-alternative-data","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/financial-institutions-turning-to-alternative-data\/","title":{"rendered":"Financial institutions turning to alternative data"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Financial institutions have long used data as a way to minimize risks. This data, however, typically comes from traditional sources (credit bureaus, SEC filings, etc.). But many (79% according to a Dataminr survey) are now turning to alternative data sources such as social media, cell phone data and product reviews to build deeper understandings of consumers and the risks they pose. Alternative data not only helps financial institutions reduce risks, it also helps them expand financial access to populations that might otherwise be overlooked and can help them improve services. At the end of the day, it is clear that the use of alternative data is becoming a necessary part of the future for financial institutions and, one day, will no longer be considered \u201calternative\u201d and will simply become a part of the traditional data framework.<\/span><\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-14002 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='5 mistakes that cause FinTech startups to fail'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/5-mistakes-that-cause-fintech-startups-to-fail\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/02\/5-mistakes-that-cause-fintech-startups-to-fail-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-12326\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-12326'>\n\t\t\t\t5 mistakes that cause FinTech startups to fail\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='APMs for B2B payments: an increasing market'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/apms-for-b2b-payments-an-increasing-market\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/07\/apms-for-b2b-payments-an-increasing-market-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-13360\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-13360'>\n\t\t\t\tAPMs for B2B payments: an increasing market\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='The impact of artificial intelligence on wealth management'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/the-impact-of-artificial-intelligence-on-wealth-management\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/09\/the-impact-of-artificial-intelligence-on-wealth-management-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-13718\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-13718'>\n\t\t\t\tThe impact of artificial intelligence on wealth management\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Financial institutions have long used data as a way to minimize risks. This data, however, typically comes from traditional sources (credit bureaus, SEC filings, etc.). But many (79% according to a Dataminr survey) are now turning to alternative data sources such as social media, cell phone data and product reviews to build deeper understandings of &hellip;<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[197],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14002"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=14002"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14002\/revisions"}],"predecessor-version":[{"id":14003,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14002\/revisions\/14003"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=14002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=14002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=14002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}