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Absa now using gambling spend data when lending to clients

Absa Group CEO Kenny Fihla says its personal and private banking (PPB) unit in South Africa is “starting to use the prevalence of gambling and gambling trends as part of the decision logic when lending to clients”.

He says these spending trends are actually a “huge predictor” when it comes to customers becoming delinquent, adding that the analysis done by the PPB unit shows “that the more clients become indebted, the more they gamble, and the deeper the hole becomes”.

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