Goldman Sachs – A Technology Company?

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In early 2017, Lloyd Blankfein (Goldman Sachs CEO) stated “We are a technology firm. We are a platform.” Goldman Sachs still has a long way to go, but is taking steps in the right direction to effectively employ digital technologies. What does this mean for the future of the traditional investment banking industry? Is human capital still a bank’s greatest asset?

AR/VR, Bloomberg and Financial Services

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Compared to other industries, applications of AR/VR in financial services are few and far in between. Below I will give a quick overview of the applications, their challenges, opportunities and zoom in on my former employer, Bloomberg, and its experiment […]

Is FICO outdated?  ZestFinance: An Alternative to the FICO Credit Score

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In 2010, roughly 8.3% of US consumers, or 19 million people, were considered ‘unscorable’ by FICO, a credit rating service whose models serve as a key underpinning of the US system for assessing credit worthiness.[1] Included in this contingent of unscorable consumers are those lacking a credit history, read: millennials, who represent an untapped market opportunity for lenders. Also excluded from FICO are the underbanked, those who lack bank accounts and primarily transact in cash. Not only are the underbanked denied access to loans based on typical FICO filters, but they must resort to predatory alternatives, such as payday loans, whose prohibitively high interest rates trap them in a vicious cycle of deep indebtedness that is difficult to dig out of. Has the FICO score become an obsolete filter? And can a lender step in to provide loans to these underserved segments where traditional banks have neglected to do so – and profitably?