Month: July 2019

How banks are partnering with fintechs on deciphering transaction data

Responsible lending practices are back in the headlines, and once again Australia’s major banks are under fire.

In statements to ASIC, all major banks inferred that using transaction data to access loans is an expensive and risky exercise.

What wasn’t reported, however, is that all major banks are leveraging partnerships with fintechs to quickly build out this capability.

Behind the headline, this is yet another story of bank and fintech partnerships working towards better outcomes for society.

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