Deciphering the Data Deluge: Making Data More Useful for Financial Inclusion
The excitement around Big Data in the financial inclusion space is understandable. Imagine a world where an emerging markets consumer can look at Google Maps and see financial access points throughout their local community, with enough real-time data to choose the financial services that best suit their needs. This scenario isn’t that far-fetched, says Camilla Nestor, CEO of MIX.
But this enticing potential is somewhat tempered by the challenges of gathering this data, distilling it into a usable format, and presenting it in a way that makes sense – and by the risks it can imply for low-income customers. That’s why MIX manages FINclusion Lab – a data analytics platform launched in 2014, and now supported by MetLife Foundation and other partners – to help market actors make sense of financial inclusion data through interactive dashboards and maps.