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Colombia Fintech
Combating The Emerging COVID Credit Crisis

Combating The Emerging COVID Credit Crisis

2020-12-15

The massive loss of income experienced by so many Americans (and countless others across the world) as a result of the COVID pandemic brings an impending credit crisis, as those impacted confront the reality of damaged credit and the difficult and potentially lengthy task of rebuilding it. Lenders must prepare now to use next gen consumer-permissioned financial data to augment the current credit review process in the decisioning process. To understand the near and longer-term financial toll the COVID-19 pandemic is taking on consumers, and to gain greater insights into potential solutions to the ensuing credit conditions, Finicity conducted a survey of more than 2,000 US consumers — of various ages and income levels — and explored the personal financial impact they've felt in recent months and how they believe they will participate in the eventual financial recovery.

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Artículo tomado de Lendit Fintech
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