To serve many Filipinos with no financial history, consumer finance company SB Finance has partnered with FinScore to step up its credit scoring efforts using alternative data.
Using FinScore’s Telco Credit Scoring Solution, SB Finance can predict the creditworthiness of a borrower and assess the company’s ability to take advantage of various loan offerings.
“Several Filipinos need access to funding, so it’s important to be able to judge their creditworthiness as they stand out of the economic impact of the pandemic. Collaboration with FinScore has allowed more Filipinos to SB The availability of financing services will improve financial inclusion for those without a credit footprint, “said Abbey Casanova, President and CEO of SB Finance.
In 2020, Thailand’s Security Bank Corporation and Bank of Ayudhya (Kurungsuri) entered into a strategic partnership to establish SB Finance, which provides multipurpose loans to its clients.
SB Finance’s mission is to help Filipinos in all areas reach milestones by making informed decisions about money, business and finance, in addition to financial support. increase.
FinScore’s solution is based on over 400 communication variables such as voice usage, replenishment patterns, talk times, years of SIM card usage, location and more. Derived from state-of-the-art systems such as gradient boosting and neural networks, Telco scores are highly predictive and provide unique consumer data. This technology can be easily integrated via an ACE web-based portal or API integration.
This year, FinScore was named “The Fast-Growing Digital Credit Scoring Platform” by the Global Economics Awards and “The Best FinTech Startup in the Philippines” by the Asset Triple A Awards. FinScore continues to pursue the development and delivery of analytical solutions for more comprehensive scoring as companies grow their needs to grow their businesses and meet the needs of the market.
Christo Georgiev, FinScore Country Manager and Chief Strategy Officer, said: This is a great partnership as FinScore and SB Finance share the same mission of making credits accessible to Filipinos with no financial history. This partnership will pave the way for underserved markets to gain credibility and establish creditworthiness enhanced by alternative data and predictive analytics. ”
SB Finance uses FinScore for credit scoring in the Philippines
Source link SB Finance uses FinScore for credit scoring in the Philippines