Big Data

Alternative data points in financial services

What is creditworthiness? It’s your ability and willingness to pay back what you owe. How does one calculate the creditworthiness of a person? After all, an entire sector of the banking industry relies on it. Lending is one of the major verticals of the banking industry and ever since the beginning, banks have tried many different methods to calculate the…
July 31, 2019
Financial Inclusion

Virtual ATMs powered by networks of SMEs

ATMs had been in use ever since 1967 when the Barclays Bank first installed it in Enfield, north London. It took almost two decades to find it’s way to India when HSBC installed one in Mumbai. In short, we can’t remember a time before ATMs. Some of you might have heard about the term ‘Virtual ATMs’. It’s been around for…
July 24, 2019
Credit Access

Effects of credit access in smaller communities

It was a Tuesday afternoon and I was headed to meet with the statutory auditors of the company. One of the company advisors were with me and he shared a story with me. A story of a small community and the effect Rs 100 (the equivalent of $1.45) had on it. The Story It was an early morning in a…
July 22, 2019