Customer data is generated in different business areas, including finance, and using them for decision-making purposes has become a competence in its own right. 

In particular, the dawn of the noncontact age has established the usage of customer data analysis as a core task for firms, which must now provide goods and services demanded by customers based on this analysis.

The advancement of fintech has also resulted in greater needs for tech-based financial services, regardless of the platform. Notably, payment, as the most important requirement for customers in accessing goods and services, has developed in wildly different directions, encompassing not only cash but also credit cards, electronic wallets, QR codes, mobile payments, and other technologies. However, the most important consequence of this development is that customers’ “credit” has become the essential requisite to the generation of “money” to be used for payment. Traditional financial organizations use conservative and conventional risk management methods for lending purposes. As such, the newly emerging fields of e-commerce, electronic wallet, and online platforms must develop a new way of “providing credit” in an alternative data-based method to deliver lending strategies that speak to the unique characteristics of customers in these platforms.