{"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='The biggest tech buzzwords in HR'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/the-biggest-tech-buzzwords-in-hr\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/04\/the-biggest-tech-buzzwords-in-hr-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-12559\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-12559'>\n\t\t\t\tThe biggest tech buzzwords in HR\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Technology\u2019s influence on compliance'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/technology-s-influence-on-compliance\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2020\/03\/en_1-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-14647\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-14647'>\n\t\t\t\tTechnology\u2019s influence on compliance\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='FinTech highlights the good and bad of lending in China'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/fintech-highlights-the-good-and-bad-of-lending-in-china\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/09\/fintech-highlights-the-good-and-bad-of-lending-in-china-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-10947\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-10947'>\n\t\t\t\tFinTech highlights the good and bad of lending in China\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}]}}