How Big Data Flows Will Change Business Lending

As we become immersed in the new world of big data, analytics, and data supply chains, business relationships — especially new forms of relationships based on flows of data between lenders and borrowers — are going to change dramatically. A new breed of lender, not just traditional banks, will have more information about the businesses they’re lending to than ever before; likewise, businesses will have extensive details about lending practices. There will be more transparency on both sides. But as anyone who’s ever been married knows, more honesty does not always equate to more happiness. It is crucial for both businesses and lenders to start preparing for the changes now in order to facilitate satisfying relationships in the future.