Published February 05 2019, 11:00am EST Young consumers lack the data to support traditional credit scoring, but there’s plenty of payments information that can fill the gap. Alternative data such as rent, utility and telecom payments where the volume of reporting is improving may provide solutions to better assessing millennial credit risk as well. A lender’s own proprietary information can also help bridge the gap. This is just one example of how millennials and their powerful market potential could reshape the consumer credit landscape. To keep pace and grow their businesses, lenders must evaluate their strategies and the models these…Continue Reading