What can you do with Big Data?

Aug 7, 2019 / by Sarah Kok

There is an unbelievable amount of data in the world. Moreover, it just keeps growing and growing: according to Domo, 2.5 quintillion bytes of data are created every single day. That’s 25, followed by 17 zeros. Alternatively, 2.5 billion billion bytes. It’s a lot!

It’s hard to articulate just how much data there is in the world. That’s where the term Big Data comes from - the exponential growth and availability of large data sets. Even more broadly, the term Big Data also encompasses the speed with which the data is created, and it’s inherent complexity due to its sheer volume. Photos, internet searches, credit card transactions, emails. Data comes at us from all angles, all the time.

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Topics: AI/ML, Alternative Credit Scoring, Credit Risk Management

Empowering Credit Risk Professionals Since 2010!

Jun 18, 2019 / by Sarah Kok

 

As part of our mission to augment the skill set of credit risk managers everywhere, we are stoked to launch a new educational platform. The Risk Rollers platform aims to spread knowledge and a deeper understanding of the credit risk management industry.

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Topics: Instantor News, Financial Inclusion/Social Good, Credit Risk Management

The New Currency For Financial Organisations

Apr 24, 2019 / by Sarah Kok

Trust and finance are intrinsically related. Recent changes in legislation around data protection along with scandals in the media around how data is used is making the question of trust in the financial services sphere more relevant than ever, sparking questions such as: "how is data used?" and "how well is it processed?". Moreover, what is the relationship between consumers and financial institutions in 2019?

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Topics: Instantor News, Onboarding, Digitalisation, Credit Risk Management

Transactional Data: The Future of Credit Scoring

Feb 28, 2019 / by Helene Stafferöd Westerlund

The financial services landscape has been radically evolving for the past decade, and credit scoring is no exception. Once the domain of a small number of credit bureaus, alternative credit scoring is democratising the credit underwriting process for banks and other lenders. This global trend shows no signs of slowing down, especially with the rise of digital-only banks and as more and more people use banking in unconventional ways, e.g. applying for a mortgage online.

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Topics: Compliance (GDPR, PSD2), Credit Scoring, Onboarding, Digitalisation, Digital Identity, KYC/AML, Alternative Credit Scoring, Credit Risk Management

Why Transactional Data is the Best Data Source for Income Verification

Jan 31, 2019 / by Sarah Kok

I am unashamedly a millennial. I engage in many of the behaviours that make my generation distinctly different to the one that came before it. I am highly individualistic, perhaps some would even say narcissistic. I’ve had social media and access to the internet for as long as I can remember. I don’t really recall a time before having a mobile phone. I spent much of my life in education striving to get the qualifications that my parents and teachers had told me I needed. I studied sustainability, and for a while, I dedicated my life to saving the world and volunteering. I am in so many ways a complete cliché.

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Topics: Lending, Financial Inclusion/Social Good, Alternative Credit Scoring, Credit Risk Management