The fifth annual spark event brought together industry leaders to discuss utility data opportunities and sustainability trends, highlighting that national elections have minimal impact on corporate sustainability commitments. Alternative data presents significant potential for improving credit inclusion, especially for those lacking traditional credit scores, while data security and consumer trust remain critical concerns. Urjanet is revolutionizing utility data use, enhancing access and connectivity for underbanked consumers through innovative technology.

1. Key Insights & Highlights

2. During our fifth annual SPARK event, industry leaders
and trusted minds gathered for a two day
collaborative forum to exchange ideas and explore
new utility data opportunities through thought-
provoking panels, roundtable discussions, and
interactive presentations from industry experts.
If you weren't able to make the event, we've collected
some of the top insights you absolutely can't miss.

3. The sustainability industry
is continuing to grow,
regardless of policy
changes or regime shifts.
According to a thorough sustainability survey created by
McKinsey & Company, national elections are the least impactful
factor in shaping a company’s commitment to sustainability.
More impactful factors include stakeholders, technology
development, and resource prices.
When asked whether there was a danger of the U.S. losing its
edge in tech and sustainability as a result of the political
landscape, Lee Ballin of Bloomberg said the U.S. is most at risk
of losing its leadership status in science and its culture of
innovation.
Dr. Marilyn Brown, Nobel Peace Prize winner and professor at
Georgia Tech, recommended that we shift the narrative to work
with policy priorities. With jobs, for instance, we have to stop
holding ourselves back from moving forward because we’re
afraid of leaving people behind.
What we heard:

4. Alternative data has vast potential
as an enabler of financial
inclusion.
According to panelists in the Data Smackdown session, alternative data, such as utility bill payment history,
has been researched as a viable source for credit decisioning since the early 2000s. But now that we have
more data accessibility and technological advancements, it’s the perfect time to revamp that research.
Kevin King of ID Analytics/Symantec shared that he believes credit inclusion is a real challenge, but it has
serious opportunity. Nearly half of consumers lack the credit score needed to access traditional credit
products – though many are worthy – and alternative data can help solve that problem.
Alternative data sources can also be even more secure than traditional sources, if they are acquired directly
from the source rather than from the consumer. "With traditional payment data, the mortgage industry takes
60 to 70 days to process a loan request. Chances are that statements presented by a consumer could be
manipulated in that time because consumers have incentive to cheat the system -- they need a loan one way
or another," said Mike Pecen, Experian.
What we heard:

5. Data security and privacy
are ever-growing concerns.
In an always-on digital world, data security for users and consumers
is growing and evolving. As new technologies emerge, so too do the
abilities of malicious attacks on private data.
In his seminar about the infinite opportunities of persistent data,
Spencer Robinson from Kabbage said, "If you are clear with a
customer about what you’re going to do with their data and why,
they will be more likely to be okay with it."
Habib Heydarian from Buddy complemented this idea in a separate
session stating, "You see companies that can’t live up to what they
promise, and once they lose the trust of their consumers, there is no
bouncing back. That’s why transparency is key -- letting your
customers know as soon as something has happened and what you
are doing about it makes all the difference."
What we heard:

6. What we heard:
Urjanet is expanding the frontiers
of utility data.
Beyond saving money and time, utility data is becoming a critical tool to fuel the growth of new
energy industries
Utility data also opens up many new opportunities to safeguard identities
It can help provision credit for the 100 million consumers classified as underbanked or unbanked
Over the last year, Urjanet has moved the utility data industry forward with its innovative technology
and business growth. Urjanet is now connected to more than 4,000 utility providers, with more than
500 connections added within the last year. The company now processes more than 130 million
requests daily, helping to serve customers around the globe. Beyond improving connectivity and
access, the company has also found new, innovative ways to utilize utility data:

7. Want to learn more about how
utility data can help your
business? Visit
urjanet.com/contact to speak to
one of our experts.