Announcing the Bloom Economic Research Division (BERD)
We’re thrilled to announce the Bloom Economic Research Division (BERD).
This division serves as a core team within Bloom responsible for leading an open-source data approach to credit analysis. Twice annually, we will compile and publish benchmark reports assessing credit risk, credit scoring, fraud rates, and the global macroeconomic credit climate.
In parallel to this announcement, we are finalizing an abstract for the first formal research project this unit has conducted. Over the last four months, we conducted global credit survey spanning dozens of nations and over 3,000 respondents.
What’s our purpose?
Credit policy impact the lives of the global population.
Whether or not you directly receive credit, interest rates and other credit factors directly contribute the global macroeconomic market. We’ve seen the successes (and failures) of these styles of policies play out in international markets.
Weak and fraudulent underwriting practices, easy credit conditions and predatory lending were largely responsible for the Global Financial Crisis of 2007–2008.
We aim to prevent situations like this from happening with a decentralized approach to credit.
Our Mission
- Economic Research: Administer rigorous academic research to enrich our understanding of the international and regional credit economies through data driven surveys, meta analysis of published research, interviews and trend tracking.
- Monetary Outreach & Influence: Work directly with governments, banks, lenders, and partners to influence international monetary policymaking to ensure a healthy global credit climate.
- Publish: Open source the results of our analysis in the form of forecasts, analysis, research, and informed perspectives to our community and the global community of economists.
Our Approach
A rigid approach is critical to understanding and fostering the credit sector’s health and long term growth. As a community driven project, this research will not be limited to the Bloom internal team. Starting with publishing the results of our first research project, we will provide the data collected in our studies to policy makers, fellow researchers, service providers, banks, credit unions and governments.
3000 Responses & Counting
In September, we announced the Bloom Credit Survey.
Over the last 4 months, we’ve conducted extensive global credit research from this survey and from external research and interviews.
The results of this survey will soon be shared.
What’s next?
Right now, the Bloom team is small and tasks are broadly spread among the team. As a result, responsibilities of this division are shared among team members.
Given the fundamental importance of data driven research, we plan on expanding this team to include a full time data scientist and full time researcher responsible for continuously assessing the global market.
If you are interested in participating or following the research from BERD, please email team@hellobloom.io
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