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I don't get it: How do credit scoring companies in the EU even get access to browsing data or my search history?

Wasn't the GDPR introduced to prevent data sharing like this in the first place if I don't explicitly opt-in to this particular use case, like, as a separate toggle and not "by using our service you agree to our privacy policy".

I'm confused.

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If you read the linked article by the IMF you start to get it, bunch of ECB economists exploring innovation in financial products and writing a meaningless blogpost about it. Bunch of buzzwords, nothing interesting.

In their defense, they write: “Fintech resolves the dilemma by tapping various nonfinancial data: the type of browser and hardware used to access the internet, the history of online searches and purchases.”

So it seems they’re not recommending this usage of data persee, but just say fintech is already doing this.

That's not innovation.

Some members of the European Parliament have probably been lobbied to implement something like that and asked for an opinion of their in house experts on the matter.

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