Brief

Using Big Data to Expand Financial Services : Benefits and Risks

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collection.link.157
https://openknowledge.worldbank.org/handle/10986/9388
collection.name.157
Miscellaneous Knowledge Notes
dc.contributor.author
Abraham, Facundo
dc.contributor.author
Schmukler, Sergio L.
dc.contributor.author
Tessada, Jose
dc.date.accessioned
2019-11-20T21:53:32Z
dc.date.available
2019-11-20T21:53:32Z
dc.date.issued
2019-11
dc.date.lastModified
2019-11-21T05:11:03Z
dc.description.abstract
Big data is transforming financial services around the world. Advances in data analytics and computational power are allowing firms to exploit data in an easier, faster, and more reliable manner, and at a larger scale. By using big data, financial firms and new entrants from other sectors are able to provide more and better financial services. Governments are also exploring ways to use big data collected by the financial sector more systematically to get a better picture of the financial system as a whole and the overall economy. Despite its benefits, the wider use of big data has raised concerns related to consumer privacy, data security, discrimination, data accuracy, and competition. Hence, policy makers have started to regulate and monitor the use of big data by financial institutions and to think about how to use big data for the benefit of all.
en
dc.identifier
http://documents.worldbank.org/curated/en/505891573224492672/Using-Big-Data-to-Expand-Financial-Services-Benefits-and-Risks
dc.identifier.uri
http://hdl.handle.net/10986/32655
dc.language
English
dc.publisher
World Bank, Washington, DC
dc.relation.ispartofseries
Research & Policy Briefs,no. 26;
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
BIG DATA
dc.subject
FINANCIAL SERVICES
dc.subject
FINANCIAL INCLUSION
dc.title
Using Big Data to Expand Financial Services
en
dc.title.subtitle
Benefits and Risks
en
dc.type
Brief
en
okr.date.disclosure
2019-11-08
okr.doctype
Publications & Research
okr.doctype
Publications & Research :: Brief
okr.docurl
http://documents.worldbank.org/curated/en/505891573224492672/Using-Big-Data-to-Expand-Financial-Services-Benefits-and-Risks
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
090224b0872c6aae_1_0
okr.identifier.internaldocumentum
31540914
okr.identifier.report
143463
okr.imported
true
en
okr.language.supported
en
okr.pdfurl
http://documents.worldbank.org/curated/en/505891573224492672/pdf/Using-Big-Data-to-Expand-Financial-Services-Benefits-and-Risks.pdf
en
okr.topic
Finance and Financial Sector Development :: Access to Finance
okr.topic
Finance and Financial Sector Development :: E-Finance and E-Security
okr.topic
Finance and Financial Sector Development :: Financial Structures
okr.topic
Information and Communication Technologies :: ICT Applications
okr.unit
DECRG: Macroeconomics & Growth (DECMG)

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