Banking and Loans Data

Banking and loans data
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At Nomad Data we help you find the right dataset to address these types of needs and more. Sign up today and describe your business use case and you'll be connected with data vendors from our nearly 3000 partners who can address your exact need.
Consumer behavior data has become increasingly important for businesses to understand and can be used to gain better insights on banking and loans. It is increasingly important for banks to not just measure traditional lending performance such as repayment rates and default rates in order to survive, but to understand the changing consumer behavior in banking and loan applications. Consumer behavior data offers banks and lenders a valuable resource to understand consumer strategies and preferences in order to better predict consumer trends and decisions.

Consumer behavior data can help business professionals gain better insights on granular, borrower-level loan performance data on small-dollar consumer loans. Consumer behavior data can be used to gain insight into factors such as why a borrower is applying for the loan, whether the borrower is using multiple loan products simultaneously, the borrower’s decision-making processes, and overall financial health of the borrower. For example, a financial institution could use consumer behavior data to better understand and segment loan applicants according to their credit score, income level, employment status, repayment history, and other factors, and use this data to tailor their loan offers and terms.

In addition, consumer behavior data can also provide insights into financial health data in the form of consumer cash-flow for the same individuals. This data can provide financial institutions with the information they need to better understand the ability of the borrower to complete the loan payments at the end of the due period. It can also provide insight into potential risk factors in the loans, such as the potential of the borrower to fall into arrears in payments or accumulate too much debt. Financial institutions can use this data to better assess the financial health of a potential loan applicant and also to better manage their own portfolios.

Overall, consumer behavior data can be used to gain better insights on banking and loans by providing business professionals with valuable data on granular, borrower-level loan performance data on small-dollar consumer loans, as well as financial health data in the form of consumer cash-flow. This data can be used to better understand consumer strategies, preferences, and loan risk factors, allowing financial institutions to better assess and manage their loan portfolios and to better anticipate consumer trends and decisions.
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