For more than a decade, PERC has been the global thought leader on alternative data. They are the only institution on earth solely dedicated to this issue. And they don’t stop there. They develop solutions and create tools to help end financial exclusion. PERC is a “think and do tank.” Rather than just demonstrate the economic and social benefits of alternative data, PERC acts to galvanize the delivery of policy and market solutions.
“We move markets when others fail.”
In the US—where there are an estimated 54 million Credit Invisibles—PERC convinced nationwide credit bureaus to make gathering alternative data a business priority, and persuaded several large lenders to use it in credit underwriting.
In addition, PERC has helped build a real-time income and employment verification solution. In other countries, PERC has developed commercial grade alternative scorecards, and in emerging markets PERC is developing an innovative alternative data network that delivers a financial identity, an estimated income, a credit score and credit report to credentialed lenders.
“PERC research and outreach guide policy reform”
PERC original research and policymaker outreach was essential to changing national credit reporting law in the U.S. (Fair and Accurate Credit Transactions Act), in New Zealand, in Australia, in Brazil, and in Kenya. In addition, PERC research and policymaker advisory services have led to regulatory shifts and modifications in data collection (Hong Kong, Singapore, China). PERC has also contributed to the creation and implementation of regional credit information sharing standards (Asia –Pacific Economic Cooperation) and has worked with multi-laterals promoting alternative data worldwide.