TECHNOLOGY
“ TO CORRECTLY ASSESS DIFFERENT SCENARIOS , WE NEED FASTER DATA AGGREGATION AND CALCULATION CAPABILITIES ”
MARTIJN GROOT VP OF STRATEGY , ALVEO and credit risk will be refined due to additional , non-traditional datasets that can provide further colour on potential future movements .
“ We will see technologies emerge that can scale data processing and allow easier integration of disparate datasets to create a single view of customer or product exposure . With that in mind , however , there 9s a number of capabilities that need to be developed first , for example , clear data lineage to trace data flows and help explain prices used in risk and valuation .”
He adds , “ To correctly assess different scenarios , we need faster data aggregation and calculation capabilities , as well as the ability to correctly track the context of data , including quality metrics and access permissions .
Dr Pooja Lekhi , Lecturer at
University Canada West , points out that throughout 2020 and 2021 , the fintech industry has been investing in innovations that can “ reduce credit scoring bias and improve fraud detection .”
The same technologies can also carry out market predictions using real-time data and predictive analytics , thus reducing the