Until now, it has been very difficult for a lender to understand the pressures on any consumer in terms of their ability to absorb more credit and pay off the required instalments, without placing unbearable stress on their finances.

While the financial industry transformation features some of the same elements as their retail counterparts, its origins and intra-competitive responses are unique, and the results are still excitingly in flux.

Lenders are looking for new ways to connect with the estimated 3 billion people worldwide who fall outside the credit ma...