Borrowing Quote by Alan Greenspan
“Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.”
About This Quote
Source Speech: Economic Forum on Financial Innovation, 2018
Tech-driven lending expands credit access to households previously deemed uncreditworthy, unlocking new borrowing capacity.
In simple terms: Tech improves lending to reach more borrowers.
Key Takeaway
Leverage data tech to broaden credit access.
Themes
finance
technology
inclusion
credit markets
innovation
Mood
optimistic
analytical
Type
informative
strategic
When to use this quote
- banking
- microfinance
- consumer credit
- digital platforms
Key Concepts
big data
risk assessment
financial inclusion
Questions to Reflect On
- How can lenders ensure fair credit decisions?
- What safeguards protect borrower data?
A Different Perspective
Reliance on technology may increase privacy risks and algorithmic bias, potentially excluding some groups.
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