SB Finance Taps Finscore’s Telco Data-Powered Credit Scoring Solutionby Fintech News Philippines August 10, 2021
Consumer lending company SB Finance has partnered with FinScore to enhance its credit scoring efforts using alternative data.
Security Bank Corporation and Bank of Ayudhya (Krungsri) in Thailand had previously entered a strategic partnership to form SB Finance which provides multi-purpose loans to clients in 2020.
Using FinScore’s Telco Credit Scoring Solution, SB Finance will be able to predict the creditworthiness of borrowers and assess their capability to avail of the company’s various loan offerings.
FinScore’s solutions are based on over four hundred telecommunication variables such as voice usage, top-up patterns, duration of calls, SIM card age, location, and many more.
Abbie Casanova, President and CEO at SB Finance said,
“With several Filipinos needing access to funds, being able to determine their creditworthiness is critical, as we rise from the economic effects of the pandemic.
Through our collaboration with FinScore, more Filipinos will be able to avail of SB Finance’s services therefore improving financial inclusion to those with no credit footprint,”
Christo Georgiev, FinScore Country Manager and Chief Strategy Officer said,
“The team is tremendously thrilled to have SB Finance onboard. It’s a fantastic partnership, since FinScore and SB Finance share the same mission of making credit accessible to Filipinos who lack financial history.
This partnership will pave way for the underserved markets to gain confidence and establish creditworthiness powered by alternative data and predictive analytics.”
Featured image: Edited from Unsplash