The Covid Effect: Typical credit-risk data became obsolete overnight. How can open banking fix it?

OnDemand • Webinar

What is this webinar about?

In it’s recent report Managing and Monitoring Credit Risk after the COVID-19 Pandemic, McKinsey analysts noted that “conventional sources of data typically used in credit-risk assessments became obsolete overnight.”

Additionally according to a recent Finicity report, 95% of consumers negatively impacted by the economic crisis said they are concerned about their ability to rebuild their credit or take out a loan following this financial predicament.

The panel will discuss how the current economic crisis has exposed the flaws in today’s credit decisioning processes and how a new approach led by open banking will transform the experience going forward.

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Join us to learn how to:

  • How the current credit-decisioning process is falling short as we look to economic recovery and whom is most impacted
  • How high-frequency data will be the order of the day
  • How a growing desire among consumers for more visibility into and control over their data can help financial institutions carve out a better path forward
  • How open banking is creating a new relationship with financial data that benefits both lenders and consumers