Last week I had the pleasure of hosting a panel discussion at a virtual event hosted by some of my friends and ex-colleagues at TransUnion in the Philippines. The theme of the day’s talk was on how lenders can meet the ever-growing demand consumers have for instant gratification, and since that include talk of BNPL and alternative data scores among other topics that have been popular here, I decided to record and edit it into an episode.“So imagine I'm on a shopping site, I've added stuff to my cart, then I get a message that says if you have a certain card you'll get 10% cashback. But I don't have that card. I'd like to get that 10% cashback, after all, I've made a substantial purchase, right? But then it flashes at you and it says, ‘apply now’. So I click on that, go through the credit approval process in a few minutes, get back the card number, the CVV number, expiry date, and use that to complete the transaction get that 10% cashback. That’s instant gratification. And if I'm going for lunch today, can I get that card approved, the plastic embossed, and in my hand before I call my friends and take them out for lunch. That’s instant gratification”.I was joined by Michele Tucci of CredoLab, Andre Marques of Provenir, and Anit Antony from TransUnionIf you have any feedback, questions, or if you would like to participate in the show, please feel free to reach out to me at brendan@howtolendmoneytostrangers.showA full written transcript with timestamps can be found at https://www.howtolendmoneytostrangers.show/episodes/episode-10 Our GDPR privacy policy was updated on August 8, 2022. Visit acast.com/privacy for more information.