Finance


 

finance case

Challenge

The spending, saving, borrowing, and investing behaviors of consumers largely determine the health of the economy at large.  For example, consumer debt has continued to increase in the United States since the recession and has reached an all-time high of $3.2 trillion, stalling the nation’s economic growth.

Answer

Consumers often share information and opinions on social media related to personal investments and financial planning.  Researchers at UCIPT have discovered ways to interpret these conversations and predict risky financial behaviors such as unnecessary spending, taking payday loans, and purchasing depreciating assets.
 

Impact

Financial service providers, government agencies, and nonprofit groups can use these insights to target credit repair counseling, debt management, foreclosure prevention, and asset building services.