How data is helping more disadvantaged people access credit
Applied data analytics techniques are normally utilised by banks to understand ATM use, or by major retailers to predict store demand and supply. But they can also be used to promote financial inclusion for Australians most in need of support.
Experian recently worked with leading microfinance provider Good Shepherd Microfinance on a pro-bono basis to do just this; considering data on a postcode level and overlaying detail about the national network of Good Shepherd Microfinance providers with detailed regional characteristics such as home ownership rates and socio-economic status. This enriched the understanding of funding versus demand for microfinance in the population.
As a result, Good Shepherd Microfinance can offer its fair and affordable financial programs to more people. We estimate by as much as 20 percent more.
To learn more about this partnership, please watch the video below.
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