Financial Consumer Protection and New Forms of Data Processing Beyond Credit Reporting
New sources of data, as well as new ways of processing such data, have contributed to an ongoing expansion in the availability of digital financial services (DFS) to served, underserved, and unserved consumers. Such data is being used to design and...
| Main Author: | |
|---|---|
| Language: | English |
| Published: |
World Bank, Washington, DC
2018
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/677281542207403561/Financial-Consumer-Protection-and-New-Forms-of-Data-Processing-Beyond-Credit-Reporting http://hdl.handle.net/10986/31009 |
| Summary: | New sources of data, as well as new ways
of processing such data, have contributed to an ongoing
expansion in the availability of digital financial services
(DFS) to served, underserved, and unserved consumers. Such
data is being used to design and market customer-centric
digital financial services, create credit scores for
consumers with limited credit histories, meet and facilitate
know-your-customer requirements, and minimize the risk of
fraud. Yet a great variety of personal information may be
used and processed in this context. This discussion note
provides an overview of consumer-related benefits and risks
arising from the usage of new types of data, beyond
traditional credit-reporting frameworks. The note also
identifies areas for further research. |
|---|