LSEG to acquire data provider Octus for $3.5bn

The London Stock Exchange Group (LSEG) is buying Octus, a major credit data provider, for over $3.5 billion. While this looks like high-level finance news, it directly impacts the technology that powers consumer lending. Octus specializes in the data used to assess credit risk and price loans. For retailers and operators, this acquisition means the tools your lenders use to approve your customers are getting more powerful and more integrated into global financial systems. As LSEG absorbs Octus, expect to see more sophisticated automated underwriting models hit the market. This could lead to faster approval times at the point of sale. It also suggests that 'big data' is becoming the primary driver of credit decisions. If your current financing partners aren't keeping up with integrated data trends, they may soon fall behind in terms of approval accuracy and speed. This deal signals that the data used to decide if a customer can afford your products is becoming more valuable than ever.

Source: Finextra

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