Information like whether a consumer capitalizes their email address in online forms, when they purchase products on e-commerce sites Opens a New Window. and what device Opens a New Window. is used to browse the web can inform how likely they are to default on a loan Opens a New Window. , according to a new study.
While many unknowns still exist, the early findings could have significant ramifications, including providing those individuals with no credit history an opportunity to begin building a score. It could also lead some customers to change how they act online.
Consumers voluntarily hand over mass amounts of information when they visit websites and much of that data can be used to predict future financial behavior, says study author Manju Puri, a finance professor at Duke University’s Fuqua School of Business.
“It’s as informative as your credit bureau score,” Puri told FOX Business. “The digital footprint and how useful it is probably will move dynamically as people begin to understand it.”