Why is it important to disrupt traditional lending approach by leveraging alternative data sources:
Adding alternative data sources to the mix helps to increase fair, equitable, nondiscriminatory access to credit, particularly for those limited by their credit history or lack thereof.
Disrupting traditional lending models can also lead to the development of new products and services that better meet the needs of borrowers. By embracing new technologies and innovative approaches, lenders can create more personalized and customized lending solutions that align with the unique needs and circumstances of individual borrowers.
Using alternative data sources in #lending can improve credit access, accuracy, risk assessment, and efficiency, making it an essential component of modern lending practices.
