Leveraging alternative data to provide loans to the unbanked

Curated on Posted on by Stefaan Verhulst

Article by Keely Khoury: “Financial inclusion is integral to the achievement of seven of the 17 global SDGs, and the World Bank says in its 2021 report that between 2011 and 2021, “Great strides have been made toward financial inclusion.” However, despite a significant increase in the number of people accessing bank accounts, around 24 per cent of the global population remain unbanked.  

Particularly for minority groups such as immigrants, the ability to access formal financial services is made exponentially more difficult by their lack of permanent address, loss of employment, and gaps in tax records. For small business owners – many of whom provide an essential community service – a lack of formal accounting records, along with any previous time spent unbanked as individuals, contributes to a dearth of information traditionally used to evaluate risk for loans.  

To tackle this issue, US startup Uplinq provides lenders with a ‘credit-assessment-as-a-service’ solution that takes into account the entire business ecosystem, and therefore billions of data points that would not traditionally be examined by underwriters considering a traditional loan application. From supplier references and store traffic to community involvement and property improvements, Uplinq provides a holistic and accurate assessment of the “opportunities, challenges, and interests of each prospect” within “known confidence ranges.” By working with independently audited and fully regulatory-compliant data sets, Uplinq’s services are available worldwide.  

Other innovations that Springwise has spotted that are helping unbanked communities include a Spanish language-first bank, and a free digital learning platform to help underserved communities understand how to better manage their finances…(More)”.

The Synchronized Society: Time and Control From Broadcasting to the Internet

Curated on Posted on by Stefaan Verhulst

Book by Randall Patnode: “…traces the history of the synchronous broadcast experience of the twentieth century and the transition to the asynchronous media that dominate today. Broadcasting grew out of the latent desire by nineteenth-century industrialists, political thinkers, and social reformers to tame an unruly society by controlling how people used their time. The idea manifested itself in the form of the broadcast schedule, a managed flow of information and entertainment that required audiences to be in a particular place – usually the home – at a particular time and helped to create “water cooler” moments, as audiences reflected on their shared media texts. Audiences began disconnecting from the broadcast schedule at the end of the twentieth century, but promoters of social media and television services still kept audiences under control, replacing the schedule with surveillance of media use. Author Randall Patnode offers compelling new insights into the intermingled roles of broadcasting and industrial/post-industrial work and how Americans spend their time…(More)”.

Building Trust in AI: A Landscape Analysis of Government AI Programs

Curated on Posted on by Stefaan Verhulst

Paper by Susan Ariel Aaronson: “As countries around the world expand their use of artificial intelligence (AI), the Organisation for Economic Co-operation and Development (OECD) has developed the most comprehensive website on AI policy, the OECD.AI Policy Observatory. Although the website covers public policies on AI, the author of this paper found that many governments failed to evaluate or report on their AI initiatives. This lack of reporting is a missed opportunity for policy makers to learn from their programs (the author found that less than one percent of the programs listed on the OECD.AI website had been evaluated). In addition, the author found discrepancies between what governments said they were doing on the OECD.AI website and what they reported on their own websites. In some cases, there was no evidence of government actions; in other cases, links to government sites did not work. Evaluations of AI policies are important because they help governments demonstrate how they are building trust in both AI and AI governance and that policy makers are accountable to their fellow citizens…(More)”.

To harness telecom data for good, there are six challenges to overcome

Curated on Posted on by Stefaan Verhulst

Blog by Anat Lewin and Sveta Milusheva: “The global use of mobile phones generates a vast amount of data. What good can be done with these data? During the COVID-19 pandemic, we saw that aggregated data from mobile phones can tell us where groups of humans are going, how many of them are there, and how they are behaving as a cluster. When used effectively and responsibly, mobile phone data can be immensely helpful for development work and emergency response — particularly in resource-constrained countries.  For example, an African country that had, in recent years, experienced a cholera outbreak was ahead of the game. Since the legal and practical agreements were already in place to safely share aggregated mobile data, accessing newer information to support epidemiological modeling for COVID-19 was a straightforward exercise. The resulting datasets were used to produce insightful analyses that could better inform health, lockdown, and preventive policy measures in the country.

To better understand such challenges and opportunities, we led an effort to access and use anonymized, aggregated mobile phone data across 41 countries. During this process, we identified several recurring roadblocks and replicable successes, which we summarized in a paper along with our lessons learned. …(More)”.

Professional expertise in Policy Advisory Systems: How administrators and consultants built Behavioral Insights in Danish public agencies

Curated on Posted on by Stefaan Verhulst

Paper by Jakob Laage-Thomsen: “Recent work on consultants and academics in public policy has highlighted their transformational role. The paper traces how, in the absence of an explicit government strategy, external advisors establish different organizational arrangements to build Behavioral Insights in public agencies as a new form of administrative expertise. This variation shows the importance of the politico-administrative context within which external advisors exert influence. The focus on professional expertise adds to existing understandings of ideational compatibility in contemporary Policy Advisory Systems. Inspired by the Sociology of Professions, expertise is conceptualized as professionally constructed sets of diagnosis, inference, and treatment. The paper compares four Danish governmental agencies since 2010, revealing the central roles external advisors play in facilitating new policy ideas and diffusing new forms of expertise. This has implications for how we think of administrative expertise in contemporary bureaucracies, and the role of external advisors in fostering new forms of expertise….(More)”.

The Government of Chance: Sortition and Democracy from Athens to the Present

Curated on Posted on by Stefaan Verhulst

Book by Yves Sintomer: “Electoral democracies are struggling. Sintomer, in this instructive book, argues for democratic innovations. One such innovation is using random selection to create citizen bodies with advisory or decisional political power. ‘Sortition’ has a long political history. Coupled with elections, it has represented an important yet often neglected dimension of Republican and democratic government, and has been reintroduced in the Global North, China and Mexico. The Government of Chance explores why sortation is returning, how it is coupled with deliberation, and why randomly selected ‘minipublics’ and citizens’ assemblies are flourishing. Relying on a growing international and interdisciplinary literature, Sintomer provides the first systematic and theoretical reconstruction of the government of chance from Athens to the present. At what conditions can it be rational? What lessons can be drawn from history? The Government of Chance therefore clarifies the democratic imaginaries at stake: deliberative, antipolitical, and radical, making a plaidoyer for the latter….(More)”.

Your Data Is Diminishing Your Freedom

Curated on Posted on by Stefaan Verhulst

Interview by David Marchese: “It’s no secret — even if it hasn’t yet been clearly or widely articulated — that our lives and our data are increasingly intertwined, almost indistinguishable. To be able to function in modern society is to submit to demands for ID numbers, for financial information, for filling out digital fields and drop-down boxes with our demographic details. Such submission, in all senses of the word, can push our lives in very particular and often troubling directions. It’s only recently, though, that I’ve seen someone try to work through the deeper implications of what happens when our data — and the formats it’s required to fit — become an inextricable part of our existence, like a new limb or organ to which we must adapt. ‘‘I don’t want to claim we are only data and nothing but data,’’ says Colin Koopman, chairman of the philosophy department at the University of Oregon and the author of ‘‘How We Became Our Data.’’ ‘‘My claim is you are your data, too.’’ Which at the very least means we should be thinking about this transformation beyond the most obvious data-security concerns. ‘‘We’re strikingly lackadaisical,’’ says Koopman, who is working on a follow-up book, tentatively titled ‘‘Data Equals,’’ ‘‘about how much attention we give to: What are these data showing? What assumptions are built into configuring data in a given way? What inequalities are baked into these data systems? We need to be doing more work on this.’’

Can you explain more what it means to say that we have become our data? Because a natural reaction to that might be, well, no, I’m my mind, I’m my body, I’m not numbers in a database — even if I understand that those numbers in that database have real bearing on my life. The claim that we are data can also be taken as a claim that we live our lives through our data in addition to living our lives through our bodies, through our minds, through whatever else. I like to take a historical perspective on this. If you wind the clock back a couple hundred years or go to certain communities, the pushback wouldn’t be, ‘‘I’m my body,’’ the pushback would be, ‘‘I’m my soul.’’ We have these evolving perceptions of our self. I don’t want to deny anybody that, yeah, you are your soul. My claim is that your data has become something that is increasingly inescapable and certainly inescapable in the sense of being obligatory for your average person living out their life. There’s so much of our lives that are woven through or made possible by various data points that we accumulate around ourselves — and that’s interesting and concerning. It now becomes possible to say: ‘‘These data points are essential to who I am. I need to tend to them, and I feel overwhelmed by them. I feel like it’s being manipulated beyond my control.’’ A lot of people have that relationship to their credit score, for example. It’s both very important to them and very mysterious…(More)”.

Contextualizing Datafication in Peru: Insights from a Citizen Data Literacy Project

Curated on Posted on by Stefaan Verhulst

Paper by Katherine Reilly and Marieliv Flores: The pilot data literacy project Son Mis Datos showed volunteers how to leverage Peru’s national data protection law to request access to personal data held by Peruvian companies, and then it showed them how to audit corporate data use based on the results. While this intervention had a positive impact on data literacy, by basing it on a universalist conception of datafication, our work inadvertently reproduced the dominant data paradigm we hoped to challenge. This paper offers a retrospective analysis of Son Mis Datos, and explores the gap between van Dijck’s widely cited theory of datafication, and the reality of our participants’ experiences with datafication and digital transformation on the ground in Peru. On this basis, we suggest an alternative definition of datafication more appropriate to critical scholarship as the transformation of social relations around the uptake of personal data in the coordination of transactions, and propose an alternative approach to data literacy interventions that begins with the experiences of data subjects…(More)”.

Ten (not so) simple rules for clinical trial data-sharing

Curated on Posted on by Stefaan Verhulst

Paper by Claude Pellen et al: “Clinical trial data-sharing is seen as an imperative for research integrity and is becoming increasingly encouraged or even required by funders, journals, and other stakeholders. However, early experiences with data-sharing have been disappointing because they are not always conducted properly. Health data is indeed sensitive and not always easy to share in a responsible way. We propose 10 rules for researchers wishing to share their data. These rules cover the majority of elements to be considered in order to start the commendable process of clinical trial data-sharing:

  • Rule 1: Abide by local legal and regulatory data protection requirements
  • Rule 2: Anticipate the possibility of clinical trial data-sharing before obtaining funding
  • Rule 3: Declare your intent to share data in the registration step
  • Rule 4: Involve research participants
  • Rule 5: Determine the method of data access
  • Rule 6: Remember there are several other elements to share
  • Rule 7: Do not proceed alone
  • Rule 8: Deploy optimal data management to ensure that the data shared is useful
  • Rule 9: Minimize risks
  • Rule 10: Strive for excellence…(More)”

Decidim: why digital tools for democracy need to be developed democratically

Curated on Posted on by Stefaan Verhulst

Blog by Adrian Smith and Pedro Prieto Martín: “On Wednesday 18 January 2023, a pan-European citizen jury voted Barcelona the first European Capital of Democracy. Barcelona has a rich history of official and citizen initiatives in political and economic democracy. One received a special mention from the jurors. That initiative is Decidim.

Decidim is a digital platform for citizen participation. Through it, citizens can propose, comment, debate, and vote on urban developments, decide how to spend city budgets, and design and contribute to local strategies and plans.

Launched in 2016, more than 400 organisations around the world have since used the platform. What makes Decidim stand out, according to our research, is developer commitment to democratising technology development itself and embedding it within struggles for democracy offline and online. Decidim holds important lessons at a time when the monopolisation of social media by corporate power presents democrats with so many challenges…(More)”.