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Big data for (not so) small loans: technological infrastructures and the massification of fringe finance

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  • Marie Langevin

Abstract

This article examines the evolution of the sociotechnical systems that is leading to a massive increase in the overall indebtedness of marginalized populations in the Global South. I analyze the processes through which Big Data (or alternative data) technologies are transforming the infrastructure of fringe finance, the nature of its power relations, and its capacities. The article identifies the consequences of these technological transformations on financial practices and illustrates the qualitative nature of the changes involved. I propose that while these innovations have increased the power of this market to capture value, they have also increased risks to indebted populations and the infrastructure's stability. I argue that these financial practices, enhanced by the power of Big Data, have made the infrastructure of fringe finance dangerously hermetic to careful consideration of the productive capacities of those being targeted for inclusion into the formal financial system, thereby making it potentially dysfunctional.

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  • Marie Langevin, 2019. "Big data for (not so) small loans: technological infrastructures and the massification of fringe finance," Review of International Political Economy, Taylor & Francis Journals, vol. 26(5), pages 790-814, September.
    • Handle: RePEc:taf:rripxx:v:26:y:2019:i:5:p:790-814
    DOI: 10.1080/09692290.2019.1616597
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    Cited by:

    1. Gordon Kuo Siong Tan, 2021. "Democratizing finance with Robinhood: Financial infrastructure, interface design and platform capitalism," Environment and Planning A, , vol. 53(8), pages 1862-1878, November.
    2. Shanhui Wu & Mengyao Dong & Suhang Tan & Yan Dong, 2024. "Who is lending to small and micro family business in China: evidence from CHFS data," Small Business Economics, Springer, vol. 63(3), pages 1225-1247, October.
    3. Lai, Xiaobing & Yue, Shujing & Guo, Chong & Zhang, Xinhe, 2023. "Does FinTech reduce corporate excess leverage? Evidence from China," Economic Analysis and Policy, Elsevier, vol. 77(C), pages 281-299.
    4. Michael McCanless, 2023. "Banking on alternative credit scores: Auditing the calculative infrastructure of U.S. consumer lending," Environment and Planning A, , vol. 55(8), pages 2128-2146, November.
    5. Francis Lwesya & Adam Beni Swebe Mwakalobo, 2023. "Frontiers in microfinance research for small and medium enterprises (SMEs) and microfinance institutions (MFIs): a bibliometric analysis," Future Business Journal, Springer, vol. 9(1), pages 1-18, December.
    6. Lucy Baker, 2021. "Everyday experiences of digital financial inclusion in India's ‘micro-entrepreneur’ paratransit services," Environment and Planning A, , vol. 53(7), pages 1810-1827, October.
    7. Tristan Dissaux, 2023. "Geographies of Monetary Exclusion in Kenyan Slums: Financial Inclusion in Question," Development and Change, International Institute of Social Studies, vol. 54(1), pages 87-116, January.

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