Inkredo automates bank statement analysis. But in order to do this, our customers have to upload the bank statements themselves (either through our API endpoints or through our dashboard). Screen scraping can automate this step; a computer program (with our customers’ permission and log in details) can use bank credentials to get bank statements automatically. This post explains why we choose not to do this.
Benefits of Screen Scraping
- The entire lifecycle of bank statement analysis can be automated. This means that lenders will save time that was previously directed towards collecting and uploading borrowers’ bank statements. Alternatively, people who were performing these manual…
FinTech companies are redesigning our current economic systems to make them more accessible to marginalised populations and make them more responsive to unforeseen negative events. Climate FinTechs are a subset of these companies; they ensure that the environment is a key stakeholder and that it gets a seat at the table. But there are still a lot of obstacles preventing ambitious climate FinTechs from reaching their goals.
How money is designed can affect how sustainable an economy is.
Given some of these obstacles are removed in the future, this post provides a high-level overview for how banks and lenders can create systems that mitigate greenhouse gas emissions at their investment portfolio…
This post doesn’t try to answer how browsing history can be used for assessing credit worthiness or how effective this method is. I assume it is possible and that it is accurate enough to be useful for lenders. Instead of answering the technical questions, I am trying to explore the ethical questions associated with this method. I do this by creating hypothetical scenarios and highlighting important questions these scenarios raise. Moreover, this post assumes that browsing history is categorised as personal data (e.g., a person’s phone number or product preferences) rather than non-personal data (e.g., weather).
It might not be okay to sacrifice privacy to decrease the price of a loan.
Imagine a woman approaching…
Questions to ask while lending to friends and family, and what it means for your relationship with them.
Imagine that someone in your friend circle or your family just asked you for money and you are not sure how to respond. Your hesitation doesn’t make you a bad person; you don’t have to feel guilty about having doubts about their ability to pay you back. This post will help you consider all possible scenarios, both good and bad, that might arise as a consequence of you saying yes or no. They key point is that negative scenarios can occur regardless of whether you say yes or no.
Commercial lenders often face the problem of information asymmetry. This just…
