SEON, Sun Finance to explore how consumer risk changed during the pandemic in emerging markets

Tuesday 20 October 2020 12:42 CET | News

SEON has teamed up with Sun Finance, an Europe-based online lender working with unbanked and underbanked customers to discuss how consumer risk shifted during the pandemic.

According to the press release, the companies will explore in a live session the changes in consumer risk and how the digital lending industry has been forced to adapt during the pandemic. 

Digital lending, and especially online loans have been successful for some time, but COVID-19 has changed many things about the way that we deal with money. Many people’s financial situations have changed and the way that we complete transactions has had to change too. Besides, many lenders who were previously offline have now moved online to cope with the increased number of people who are doing more from home. Simultaneously, due to the uncertainty worldwide risk has increased, with microlending particularly affected. 

Consequently, is with these issues in mind, SEON and Sun Finance, will discuss the following:

  • The online lending market in general, including loan sizes, and targets, as well as upcoming challenges.

  • The shifts that have occurred because of COVID-19. For example, some big-name companies closing, and how we can adapt to the increased risk.

  • How alternative data can help to confirm identity in a way that the traditionally used methods cannot?

  • What the future of the online lending industry might hold.

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Keywords: SEON, Sun Finance, unbanked, underbanked, fraud, risk management, COVID-19
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: World
This article is part of category

Securing Transactions