My previous post described the underlying financial technology and its current list of consumers. But of what use is such a discussion if there is no one to supplement the technology with a good business idea? What if there is an application that can fetch information regarding an applicant (which probably by no means is an easy task) in a relatively short period of time and come up with reports. Yes, this would involve a high stakes contract with the government and credit unions and what not. We have access to both ends of the technology spectrum – from the latest in memory databases (hardware) to the always enhancing machine learning knowledge (software).
An application (if developed) might involve gathering and storing data from various sources such as – Credit Bureau, DHS etc. And all this needs to be transmitted/ stored in a secure way that would adhere to the data privacy standards. Because, the systems in context are capable of handling such huge data and have a capability to process it as well; I feel that working on plausibility of such an application is not totally out of the blue and might be realized at some point in the future. What are your thoughts?
I think your idea is great and your post really interesting , But you think to gather sensitive information for a private company is a good idea, no matter how secure their system is.