Building the future of finance: One Megabyte At A Time
Data has become a ubiquitous and important source of information and knowledge for all. It has become widely accessible and is an important avenue for businesses to find creative solutions for problems. The major challenge with data though is how to use it effectively and innovatively.
Lending to lower-income households and small and informal enterprises is one such challenge that not many businesses have ventured into. Many of the people from this background have limited (if at all) access to formal financial services and this not only inhibits their ability to make good decisions on the responsible and appropriate use of credit but also limits their awareness about financial services.
Tala has solved this problem by using the data from mobile phones to evaluate and score applicants’ creditworthiness and capacity. By doing so, it has not only made formal financial services accessible to the population that does not have access to it but has also empowered them and given them new hope for their future.
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Gaurang Sanghvi: Country Manager – India at Tala at Cypher 2017 big data in healthcare | |
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| Science & Technology | Upload TimePublished on 8 Oct 2017 |
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