As financial institutions look closer at the increasingly detailed consumer credit data available, they are learning consumers are more apt to pay off personal loans before mortgages, auto loans and credit cards.
MIT professor Maria Loumioti has studied loans made strictly using hard data and loans where a loan officer clearly was influenced by personal connections or feelings about a borrower. The results shed light on the value and limitations of "soft" information.
Personal financial management tools have long relied on financial data aggregation. Now, aggregators are hoping traditional lenders will take a cue from alternative lenders and use the technology to quicken their underwriting decisions.
Dorothy Savarese and Rebeca Romero Rainey now chair two important trade groups … Mary Lynn Lenz, Patti Husic and Terry Jorde weigh in; Barclays CEO Jes Staley talks hiring diverse leaders and how to keep them; and more.
The president's executive order reflects a lack of trust in the identity information shared between countries. In theory, blockchains are tailor-made to solve this problem, but current systems may not be up to the task.