Open Banking Credit Scoring: The Future of Credit Assessment

Open Banking Credit Scoring: The Future of Credit Assessment

AI, Web3 & New Frontier Stage
Panel Discussion
AI, Open AI and Big DataDataDiversity & Financial InclusionOpen Finance

Information

‎Open banking is a new technology that allows third-party financial services providers to access customer banking data directly from banks. This has the potential to revolutionize credit scoring by providing lenders with a more comprehensive view of a borrower's financial situation.

This panel will discuss the potential impact of open banking on credit scoring. The panelists will address the following questions:

- How can open banking be used to improve credit scoring?

- What are the challenges and risks of using open banking for credit scoring?

- How can consumers protect their privacy when using open banking for credit scoring?

TransUnion LimitedFD04TransUnion is a global information and insights company that makes trust possible in the modern economy. We do this by providing an actionable picture of each person so they can be reliably represented in the marketplace. As a result, businesses and consumers can transact with confidence and achieve great things. This picture is grounded in our legacy as a credit reporting agency for over 40 years in Hong Kong, which enables us to tap into both credit and public record data; our data fusion methodology that helps us link, match and tap into the awesome combined power of that data; and our knowledgeable and passionate team, who stewards the information with expertise, and in accordance with local legislation around the world. A leading presence in more than 30 countries across five continents, TransUnion provides solutions that help create economic opportunity, great experiences and personal empowerment for hundreds of millions of people. We call this Information for Good®—it’s our purpose, and what drives us every day.

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