The majority of Africans make their living informally and so, too often, traditional data sources show an incomplete picture of the financial lives of ordinary individuals. See how alternative sources of data can provide useful insights to those looking to design financial products for African consumer.
GIS or Geographic Information System Data has many applications in the financial sector. Watch how the combination of location and attribute data can give you a head start in resolving challenges related to placement of your agents, credit risk assessment or processing insurance claims.
With close to half of Africans not having any formal proof of identification, and paper-based systems costing financial service providers up to 20 times more than automated systems, there is a strong incentive for financial service providers to adopt biometric identity verification systems. This video explains how biometrics can save businesses and customers time and money in processes such as customer onboarding, mobile banking and customer services.
Africans are going digital and making social media a part of their day-to-day lives. Among other things, social media data can help your business detect fraudulent claims, conduct rich sentiment analysis and produce alternative credit scores. Watch this video for more details on how this alternative data source can bring you closer to your target market.