The proliferation of borrower non-financial information shifts dimensions of credit risk management and lending models. This opens new ways of sharing borrower information and extending credit. Allowing fintech products such as the ones discussed in this paper to operate under sandbox arrangement protects the sector and the data subject from malpractices by fintech companies. This also allows regulators to appreciate them and amend the laws accordingly while maintaining the sector’s safety, ensuring delivery of efficient financial services and thereby allowing for financial inclusion for initially marginalised populations. Big data and artificial intelligence bode well for the availability and analysis of information which can be used in designing suitable products for consumers, thereby driving financial inclusion. However, possible elements of malpractices in these technologies create room for the improvement of regulatory legislation and overall product development. To further smoothen the use of data technologies in the lending market, regulators should consider.download full publication
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