Boston, November 19, 2019 – Lenders making unsecured personal loans are leading the financial services industry in their use of alternative data and advanced analytical techniques for marketing and loan decisioning. The insights lenders can obtain on borrower creditworthiness by evaluating large amounts of data—often through machine learning or similar approaches—allow them to offer competitive terms while managing their risk. 

Drawing from the findings of a Q2 2019 survey of 18 U.S. consumer lenders conducted by Aite Group and sponsored by Equifax, this report details the extent to which lenders are using various alternative data sources, the factors driving that adoption, and the challenges and market gaps they perceive.

This 19-page Impact Report contains 12 figures and one table. Clients of Aite Group’s Retail Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.