90 Miles From Tyranny : Your Search History Will Determine Your Financial Credit Score In Future, Says IMF

Tuesday, December 22, 2020

Your Search History Will Determine Your Financial Credit Score In Future, Says IMF
















A new white paper by the IMF calls for linking your search history to your financial credit score, which would in effect lower your score if you visit websites marked harmful by their fact-checkers.

In a new blog post for the International Monetary Fund, four researchers presented their findings from a working paper (read below) that examines the current relationship between finance and tech as well as its potential future.

The researchers propose using the data from your browsing, search, and purchase history to create a mechanism for determining the credit rating of an individual or business.

The plan is outlined in a blog written by Arnoud Boot, Peter Hoffmann, Luc Laeven and Lev Ratnovski, pitching the Orwellian notion as a breakthrough in financial technology (Fintech).

Fintech resolves the dilemma by tapping various nonfinancial data: the type of browser and hardware used to access the internet, the history of online searches and purchases. Recent research documents that, once powered by artificial intelligence and machine learning, these alternative data sources are often superior than traditional credit assessment methods, and can advance financial inclusion.

Overall, while much of the technological progress in finance is evolutionary, its pace is accelerating fast. Fintech’s potential to reach out to over a billion unbanked people around the world, and the changes in the financial system structure that...



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5 comments:

Bobo the Hobo said...

I’m sitting at 810 now; I wonder what my score would be if they discovered midget porn in my search history.

Grey said...

Wow. When did the Norks take over the banking industry.

Grey said...

It's getting to be far past time to end this totalitarian bullshit.

With axes.

Preferably in a terrible and brutal enough manner that no one even thinks about trying this crap again for a few hundred years.

edstafford said...

I would think Norks were a cross between Nerds and dorks, but the slang definition is women's breast?

edstafford said...

Hey Georgie Bush and Bill Clinton, I thought opening our markets was supposed to make China more like us? I think we are becoming more like them. Power corrupts, absolute power corrupts absolutely. Good grief.