Rethinking affordability in an Open Data World
12th September

The advent of Open Banking and sharing of bank transaction data is making businesses re-think the way they confirm a customer’s affordability.

The appropriateness of existing bureau-based income data and modelled estimates of expenditure to accurately predict affordability is being challenged as we move to a world where consumer’s consent to share information on how they spend and earn their money.

In a digital world where customer expectations are frequently based on instantaneous response, organisations are challenged to make fair and accurate decisions quickly that minimise risk to the consumer and the business.

Ally to this the increased regulatory focus on the data being used to confirm a customer’s ability, and you have a perfect storm of circumstances that presents both opportunities and obstacles for growth.

Rob Haslingden (Head of Digital Propositions) and Phil Grady (CEO, Castlight Financial Services)  look at how best to optimize the use of bureau and Open Data to better inform your understanding of affordability and create better outcomes for customers.
They’ll look at the opportunities Open Data provides to improve the provision of services to the UK’s 5.8m Credit Invisibles, as well as the role of data in protecting the financially vulnerable.
By examining the use of bureau and Open Data they’ll demonstrate how data can be tailored to suit the individual needs of customers to create better digital experiences throughout the customer lifecycle and enable you to make fair and accurate decisions.

Calum Fuller
Credit Strategy
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Rob Haslingden
Head of Propositions
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Phil Grady
Castlight Financial Services
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