IMF researchers: digital footprint yields better credit assessment
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Re: IMF researchers: digital footprint yields better credit assessment
#2[Edit: no longer relevant, see replies] No it doesn't? This is the only part of the post relevant to the headline:
> The second and most complex problem is that certain kinds of people, like new entrepreneurs, innovators and many informal workers might not have enough hard data available. Even a well-paid expatriate moving to the United States can be caught in the conundrum of not getting a credit card for lack of credit record, and not having a credit record for lack of credit cards.
> Fintech resolves the dilemma by tapping various nonfinancial data: the type of browser and hardware used to access the internet, the history of online searches and purchases. Recent research documents that, once powered by artificial intelligence and machine learning, these alternative data sources are often superior than traditional credit assessment methods, and can advance financial inclusion, by, for example, enabling more credit to informal workers and households and firms in rural areas.
Re: IMF researchers: digital footprint yields better credit assessment
#3Truly a dystopian world we are entering. Now more than ever is the time for funding and developing alternative tools that utilize decentralization.
What's coming cannot be stopped but it can be broken.
Re: IMF researchers: digital footprint yields better credit assessment
#4Truly a dystopian world we are entering. Now more than ever is the time for funding and developing alternative tools that utilize decentralization. What's coming cannot be stopped but it can be broken.
Nothing decentralized will ever remain so if humans are involved.
Re: IMF researchers: digital footprint yields better credit assessment
#5Editorialised title, despite a clearly buried lede.
"What is Really New in Fintech" is original.
"IMF says credit score should incorporate browsing history" was submitted.
Buried lede:
Fintech resolves the dilemma by tapping various nonfinancial data: the type of browser and hardware used to access the internet, the history of online searches and purchases. Recent research documents that, once powered by artificial intelligence and machine learning, these alternative data sources are often superior than traditional credit assessment methods, and can advance financial inclusion, by, for example, enabling more credit to informal workers and households and firms in rural areas.
Re: IMF researchers: digital footprint yields better credit assessment
#6Guess I'll work on a browser plugin that makes lots of responsible sounding financial queries.
Re: IMF researchers: digital footprint yields better credit assessment
#7[Edit: no longer relevant, see replies] No it doesn't? This is the only part of the post relevant to the headline: > The second and most complex problem is that certain kinds of people, like new entrepreneurs, innovators and many informal workers might not have enough hard data available. Even a well-paid expatriate moving to the United States can be caught in the conundrum of not getting a credit card for lack of cr…
Submission is clearly editorialised, but so too, lede is clearly buried. And exceedingly difficult to extract from content as written (HN offers guidelines on improving or clarifying titles, they just don't work here).
Unfortunately, this also makes metadiscussion of the submission and title dominate the thread, at least until dang cleans up.
I'm pinging dang.
Re: IMF researchers: digital footprint yields better credit assessment
#8Guess I'll work on a browser plugin that makes lots of responsible sounding financial queries.
https://en.wikipedia.org/wiki/Goodhart%27s_law strikes again.
Re: IMF researchers: digital footprint yields better credit assessment
#9[Edit: no longer relevant, see replies] No it doesn't? This is the only part of the post relevant to the headline: > The second and most complex problem is that certain kinds of people, like new entrepreneurs, innovators and many informal workers might not have enough hard data available. Even a well-paid expatriate moving to the United States can be caught in the conundrum of not getting a credit card for lack of cr…
Submitted title was "IMF says credit score should incorporate browsing history". That was egregious editorializing. Submitters: please don't do that!
Cherry-picking the most sensational detail and making that the title is definitely not ok, and fabricating something the article doesn't say is right out! https://news.ycombinator.com/newsguidelines.html
When a title buries the lede in favor of bland corporate rhetoric, it's fine to replace it, but you should replace it with something accurate and neutral, using representative language from the article itself. I've taken a crack at that above. If anyone can suggest a better title by these criteria, we can change it again.
Re: IMF researchers: digital footprint yields better credit assessment
#10[Edit: no longer relevant, see replies] No it doesn't? This is the only part of the post relevant to the headline: > The second and most complex problem is that certain kinds of people, like new entrepreneurs, innovators and many informal workers might not have enough hard data available. Even a well-paid expatriate moving to the United States can be caught in the conundrum of not getting a credit card for lack of cr…
Submitted title was "IMF says credit score should incorporate browsing history". That was egregious editorializing. Submitters: please don't do that! Cherry-picking the most sensational detail and making that the title is definitely not ok, and fabricating something the article doesn't say is right out! https://news.ycombinator.com/newsguidelines.html When a title buries the lede in favor of bland corporate rhetoric,…
That wasn't intended to be editorializing or picking a sensational detail. Rather, I found that to be the most relevant point and believed that it would be most salient to HN. I certainly wouldn't call it fabrication; it explicitly states that this data could be used to qualify many people for better credit, doubtless via some credit score system or similar. I think this quote best lays out that position:
> Recent research documents that, once powered by artificial intelligence and machine learning, these alternative data sources are often superior than traditional credit assessment methods, and can advance financial inclusion, by, for example, enabling more credit to informal workers and households and firms in rural areas.
Where "these alternative data sources" includes digital habits such as browsing history.
Edit: I would suggest "IMF researchers find that digital footprint yields better credit assessment" as an alternative. These aren't fintech data sources inherently; they've been used for advertising for years.