These advances allow companies to mine and exploit so-called ‘alternative data’. Such data include information on the location of consumers, frequency and type of phone calls, frequency of utility bill payments, social media presence, and various other items. Based on this information, financial technology companies build models that calculate the propensity of consumers to repay their financial obligations and that provide them with the appropriate financial facilities. Consequently, financial technology companies can provide access to finance and credit without relying on credit-scoring agencies, which do not operate in all markets.