This is shocking.
Research posted to the International Monetary Fund stated that companies soon may look at internet data as more info about the risk you could possess as a borrower. They would be able to obtain the data necessary by the persons digital footprint left behind on websites.
Some researchers believe that this may be a good change for consumers who are traditionally denied on loans. Researchers say that companies will now look at browsing history and shopping history to see that the potential borrower is trustworthy. How the data and shopping history will effect the persons credit score is still yet to be determined.
Researchers stated that new regulation will have to be in place by the government to allow banks to view potential borrower’s data and shopping history. They also stated that tech companies will have to make this more secure from data breaches for consumer safety.
