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