INDUSTRY INNOVATION SESSION LUNCHEON: EMBRACE INCLUSION WITH ALTERNATIVE DATA - HOW ALTERNATIVE DATA EXPANDS ACCESS TO CREDIT FOR UNDERSERVED MINORITIES

During this session, we will discuss a research project that demonstrates how alternative data can help lenders underwrite credit for historically disadvantaged minority populations. It is common for minority underbanked consumers to lack a sufficient data footprint at one of the three national credit bureaus, and be excluded from credit products as a result. Alternative data available on these consumers can be used in the underwriting process, potentially increasing access and approval rates.