Finicity is part of the Mastercard family. Our open banking platform provides the financial data you need.
5 Key Problems in Credit Decisioning and How Open Banking Solves Them
Open banking platforms deliver consumer-permissioned data, the foundation of more comprehensive, more accurate risk assessment. And lenders need enhanced assessment in order to remedy these five problems in today’s credit market.
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Learn how to solve these five problems:
Traditional credit scoring is a lagging indicator of financial health
Credit scores do not follow individuals across borders
Sixty-two million Americans have a thin credit file or are credit invisible
Millennials are lagging behind other generations in building credit
The COVID-19 pandemic has exposed problems with traditional credit scoring
Certain open banking solutions are provided by Finicity, a Mastercard company.