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.
At Instantor we want to contribute to a more inclusive and fair financing market. We do this by making people's financial lives easier and helping organisations to understand their customers’ true financial capacity, using transactional data.
Our client, Lendify – Sweden’s largest marketplace for loans – wrote a great opinion article on how traditional credit assessments need to be updated. How new technology, like our AI credit predictor – Insight – can provide a more accurate and detailed risk analysis for lending organisations and be a force for a healthier lending market. Please enjoy a translated version by us that was originally published in Swedish by Realtid.se in October 2018.
For many of the world’s poorest countries, financial inclusion is a big problem. Large numbers of people have trouble just getting a bank account, let alone access to credit – particularly in non-OECD countries like Colombia, Ukraine and Vietnam, just to name a few.