Big data is helping the fintech world to reduce the risk of account opening, credit placements and fraud control.

More than 1,100 technological finance companies actively operate in Latin America according to the “Panorama Fintech” report. An expanding market with new needs. Evolution goes hand in hand with the need for quality data.

2019 had quite a few Fintech conventions in the region and one of the ones that closed the year was Finnosummit Fintech Miami. A Tiaxa delegation participated and highlighted the great relevance of our Telco data to meet consumers.

Profiling and predicting user behavior is possible today with the use of advanced analytics and a valuable data source. The mobile history of a person reduces the risk of a credit, in addition to allowing the financial inclusion of unbanked people who are not recognized by the credit bureaus “, says Felipe Valdés, CEO of Tiaxa.

The investment of fintech companies in Latin America this year will exceed 10,000 million dollars and that is why “the use of alternative data is highly relevant, because it allows possible scenarios to be visualized and companies can make better decisions and reach a greater number of people, faster ”, says Rocío Aguilar, Commercial Manager of Tiaxa México.

Our Data Science expert, Josué Fredes, will hold the first alternative data workshop at Colombia Fintech in January. 2020 will be the year that alternative data demonstrate its customer profiling potential for a market that needs to know its customers thoroughly.