Microfinance Gateway: Leveraging Big Data for Financial Inclusion: Opportunities and Risks

“Big Data is opening doors for financial technology (fintech) firms and other non-microfinance organizations to enter the microfinance sector. The new competition can have a positive impact on MFIs as it pushes them to innovate around “alternative” credit scoring models and to develop mobile-based savings and loan products that can be easily accessed by clients. For example, First Access and Finca have joined to create the world’s largest collaboration of fintech and microfinance.”