Fintech

Financial institutions are collecting and analysing a growing amount of data about us, in order to judge us and make decisions on things like creditworthiness. Increasingly, financial services such as insurers, lenders, banks, and financial mobile app startups, are collecting and exploiting a broad breadth of data to make decisions about people. This has a huge variety of possibilities: the tracking of cars to charge for insurance; reading the contents of your text messages to determine if you’re suitable for a loan; seeing who your friends are to determine your interest rate. The financial sector is changing in how it uses data. This has to be of particular concern when it affects the poorest and most excluded in societies.