Developing a big data analytical model for measuring financial well-being in an open finance ecosystem
Pilar Beatriz Alvarez-Franco·Henry Velasco·Diego A. Restrepo-Tobón·Carolina Crispin Fory·Henry Laniado
Purpose This paper develops and empirically tests a novel big data analytic model to measure financial well-being (FWB) throughout the customer life cycle. The study uses a comprehensive, proprietary dataset that encompasses demographic and transactional data for nearly 430,000 clients across multiple financial products, approximating an “open finance” setting. Design/methodology/approach The model combines objective indicators of financial behavior with subjective measures of perceived well-bei