Tiaxa’s webinar “Alternative Data Sources for Risk Control in the Financial Sector” was successfully developed on October 22nd. Organized in conjunction with Asofom, it addressed the importance of alternative data for financial services. If you could not attend, below we share three relevant points of our presentation:

Identify clients who are outside the traditional bureau using Alternative Data

Alternative data sources are gaining ground because they provide information that allows greater knowledge of clients who are seeking formal financing for the first time. Thus, clients who lack a credit history or extensive financial support, can access new credit alternatives through the analysis of data that is related to payment behavior. In this sense, Telco data has shown great potential for use as it can cover the gaps left unmet by traditional data.

High mobile penetration in Mexico, greater credit possibilities

In a country where more than 119 million mobile lines are active, only 36% of Mexicans are banked. Through the use of mobile behavior data of users, with their prior authorization, it permits financial inclusion of people who do not have a credit profile. In addition, it allows financial institutions to perform validations or detect fraud, to name a few of benefits.

Quality data for informed decision making

Tiaxa converts mobile data into Scores and analytics solutions that improve the performance of critical processes in the financial industry. This data is easy to integrate into different business processes through standard APIs with real-time response. These scores allow us to categorize the people who apply for credit, determining optimal ranges to minimize payment defaults and improve approval. In addition, it is also possible to determine differentiated operating processes based on classification. Thus, costs can be optimized and efforts can be focused on collection of the riskiest segments.