Democratising Credit Using Artificial Intelligence And Alternative Data

Access to credit is essential for economic growth. Banks have traditionally served this role, providing credit to individuals and companies. However, significant proportions in both segments remain underserved, globally – small and medium-sized enterprises (SMEs), individuals with no or short credit histories or those lacking sufficient collateral. These barriers are especially severe in emerging economies with fewer regional and community banks. Artificial Intelligence (AI) models using alternative data have the potential to materially alleviate this problem and revolutionise credit access