Data Tools
With income verification now more important than ever, this week we’ve further improved the predictive abilities of our Income Verification. We have added Missed Payments to highlight if recent scheduled payroll payments have been missed. This is available now via API and in the dashboard in both web and PDF and should help easily identify recent changes in employment status.
We can also confirm that CERB payments are being correctly attributed to government income in our transaction categories and insights, and in our risk scoring.
Analytics
With CERB in full swing now, we have seen a drastic swing in income source from employment to government. Below is the ratio between the two graphed, with government income representing over 50% of recent loan application data.
We continue to see similar changes in consumer spending to our last update, as illustrated below. The largest declines are still in restaurants and retail, while groceries and pharmacies are up.
One interesting graph came from looking at several popular gig economy / technology companies that illustrates the dramatic shift in spending as customers Stay Home. Uber and Lyft have dropped significantly while Skip The Dishes is dominating it’s food delivery rivals.
As always, if you have any questions or ideas on useful analytics, please get in touch with us at [email protected].