"Lending is a feature. Not a product. Almost all and
any distribution platforms with unique and rich datasets can unlock
lending and win big."
Kunal Shah, on Twitter
A fintech entrepreneur walks into a bar. "Hey,
what can I get you today?" asks the bartender. The
entrepreneur smiles, "I'll have my usual –
a Dataquiri."
Data, as Kunal Shah notes, is the fuel that allows any platform
(with distribution) to switch on lending as a feature. Without it,
fintechs can't expand credit access or optimize customer
experience. Which leaves us with cookie cutter financial products
that exclude many, function for some and delight no one.
India's data protection bill is snailing through the
Parliament. But the RBI is already stepping in. Bit by bit,
it's regulating fintech's use and access to data. Like the
new card directions that prohibit co-branding partners from
accessing transaction data (more on this in our main course story
on the new restrictions). We hope the RBI
