2020 has seen an accelerated use of alternative data to generate a positive social impact for the creation of sustainable businesses. Information available from economic relief measures implemented LOOKING AHEAD: 2021 IN THE FINANCIAL INDUSTRY
throughout the pandemic allowed for a broader integration of new customers into the financial system. These people, previously excluded from financing, are creating their own businesses and thus collaborating in the growth of the economy.
Given these great advances for the region, the upcoming years are going to have an incalculable and more powerful impact in society than the last decade in the financial industry. The impact does not only look forward to bigger changes in the system, but into society. 2020 has arrived to change the paradigm in countries where social inclusion has always been a big issue, a matter that needed its own attention and special care. Despite the destabilization of the financial system brought up by the Pandemic we find new customers with valuable data previously ignored. Big data and machine learning advancements are ready to provide the appropriate insights that companies require to contribute to access to credit. This framework has become an opportunity for 2021, a challenge for the industry with the chance of reactivating the economy and introducing previously unthought innovative ways to achieve the final goal, financial inclusion.
Made with FlippingBook Digital Publishing Software