These tight standards can take many forms, including stricter underwriting, higher fees and interest rates, more stringent documentation requirements, larger required down payments, stricter appraisal standards, and fewer available mortgage products.
Data has become a basic and strategic resource for the digital transformation of the financial sector. From diversified innovative product design to customized financial services, and from business process optimization that separates the wheat from the chaff to risk prevention and control that eliminates hazards and safeguards security, data has been rendering strong support to financial innovation and development.