Mesmo sendo muito útil para que a população acesse produtos e serviços essenciais para a sua sobrevivência, credit often becomes a big taboo here in the UK.Data from the Brazilian Institute of Research and Data Analysis (Ibpad) show that about 73% of Brazilians feel financially excluded precisely because they lack access to this facility. In part, the problem is due to traditional assessment models, que não conseguem captar os comportamentos financeiros de pessoas que operam fora das estruturas bancárias formais
With that, the use of alternative data could be the great trump card for financial institutions, that still rely on very outdated credit bureau information when assessing potential clients. To get an idea, The World Bank survey (Global Findex Database) shows that 45% of Brazilians are underbanked, primarily relying on cash transactions or alternative financial services.
On the other hand, Pix experienced explosive adoption, being used regularly by over 70% of the adult population,according to the Central Bank. The growth of digital payments presents a huge opportunity to redefine credit assessment, but financial institutions are still adapting to this
За словами Ігора Кастровійо, country manager of 1datapipe, provider of AI-based consumer insights solutions, The biggest mistake institutions make when assessing credit is to classify people without a banking history as having a poor score. This simply is not true. Currently, we have technologies to assess real financial behaviours beyond outdated credit models, score the executive
AI and alternative data: unlocking credit
Considered the technology of the moment, Artificial Intelligence has been very useful in the credit assessment sector. Through its combined use with data analysis, she is capable of providing insights that go far beyond traditional bank statements. When analysing actual financial behaviours, models based on this technology can provide a clearer and more inclusive view of creditworthiness
Tanto isso é verdade que um estudo da Cinnecta aponta que cerca de 50% das instituições financeiras já utilizam IA em seus processos de crédito, with 70% of teams considering high priority to install new technologies to further improve assessments
However, what would be the main sources of these alternative data? Below are some examples
Uso de teléfono móvil Recharging frequency, payment of bills and consumption habits indicate financial stability
Payments of bills and rent Timely payments for essential services are strong indicators of financial responsibility
E-commerce and digital transactions Purchasing and payment patterns in BNPL services (Buy Now, Pay Later) demonstrate consumer reliability
Social and behavioural data– Digital footprints, como histórico de empleo, education and professional networks, reveal credit potential
These AI-driven insights enable lenders to overcome outdated models and expand financial access for millions of people, explain Igor Castroviejo
The role of Pix in financial inclusion
Pix is rapidly becoming the most powerful tool for financial inclusion in Brazil, allowing millions to build a transaction history without the need for a traditional bank. With over R$ 26 trillion transacted in the past year through the platform,according to the Central Bank, financial institutions have a goldmine of data at their disposal. This, however, since they adopt AI-based strategies
За словами Ігора Кастровійо, the explosion of digital payments in Brazil is a fundamental game changer and must be taken into account by the authorities. Financial institutions that do not incorporate this type of information will be ignoring the future of credit, test
Why AI is essential
Creditors often classify clients without a credit history as high risk simply because they lack conventional financial records. AI challenges this view, focusing on real-time behavioural insights, instead of just on past credit performance
A study by Juniper Research predicts that AI-based credit assessments will lead to a 67% increase in lending opportunities in emerging markets by 2028. Financial institutions that adopt this change may expand their customer base, reducing default rates and creating a fairer credit ecosystem, балто Ігор Кастровехо
With that, instead of relying solely on outdated methods, the financial institutions must adopt dynamic and real-time models, que refletem o comportamento moderno do consumidor. The credit industry is at a crossroads. We evolve and include more people, or we continue excluding millions based on outdated patterns, балто Ігор Кастровехо
The time to act is now
Financial institutions adopting AI-driven credit models will lead the next wave of financial inclusion. Since the technology already exists, now the question is who will be the first to use it strategically
As Brazil moves towards a more inclusive financial future, the real question is not whether AI can fill this gap in the credit market, but who will be the pioneer in this movement. This will only encourage the creation of products focused on people's real needs. Furthermore, the measure reduces inequalities by expanding access to credit, electronic payment methods and simpler, low-cost banking products, Igor finishes
