Data

Consumers don’t seem to understand what’s happening with their data — does it matter?

  • Research shows 76% of fintech users are unaware that apps can sell their personal data to other parties.
  • 40% of fintech users plan on decreasing their usage, citing fintech’s lack of responsibility in the event of a breach and its indefinite retention of user data.
Subboh Jaffery | December 17, 2021
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Consumers don’t seem to understand what’s happening with their data — does it matter?

 

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1 comments on “Consumers don’t seem to understand what’s happening with their data — does it matter?”

  • 2 years ago
    OpinionMakerPaul DiegelmanVice President, Fiserv

    Paragraph 4’s survey result of “77% reported not reading all the terms and conditions, users have little idea what they’re allowing apps to do with their data”

    Author’s grand finale “people deserve greater transparency over what’s going on behind the curtains”.

    It would appear 3 / 4 of respondents are already being offered something they don’t seem to want?

Outlier OpinionsMakers

“It would appear 3 / 4 of respondents are already being offered something they don’t seem to want?”

Paul Diegelman

Vice President, Fiserv
Banking, Data

FIs are warming up to alternative data and 93% think it will have a positive impact on their bottom lines

  • Recent data shows that FIs are warming up to the possibilities alternative data presents, albeit slowly.
  • If FIs can better determine who is a good credit risk, it's good for consumers as well as lenders’ own bottom lines.
Rabab Ahsan | April 16, 2024
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The Financial Data Evolution: Unraveling lending in open finance with Akoya’s Rishi Kapadia

  • As part of Tearsheet Talks: Lending x Credit, Data, Rishi Kapadia, product manager at Akoya, discussed "The Financial Data Evolution: Unraveling Lending in Open Finance."
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Best practices for fusing internal and external data to enhance credit decisioning for SMB lending with Stripe’s Yaakov Erlichman

  • Learn strategic and tactical best practices for maximizing the fusion of internal and external data to enhance credit decisioning and risk management for SMB lending.
  • Stripe's Yaakov Ehrlichman, head of capital and SMB risk, covers both conceptual and implementation considerations for reconciling data sources tailored to the unique needs of the SMB market.
Tearsheet Editors | October 26, 2023
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How payments providers can tap into the growing SMB market 

  • The POS market continues to grow, driven by digitalization and new vertical offerings, but there's a lack of available data around SMB revenue, growth trends, and other metrics to help capture these businesses as customers.
  • Data firm Enigma provides comprehensive data about the identity and financial health of millions of businesses, enabling visibility into real revenues and financial trends across this growing market.
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  • With fraud evolving, prevention and detection mechanisms are changing as well.
  • FIs and technology providers are turning towards approaches where critical data about fraudulent activities can be shared with FIs and businesses in the ecosystem via a network approach.
Rabab Ahsan | July 05, 2023
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