Before we tackle Telco data credit scoring… It’s only fitting to quickly discuss Traditional Credit Scoring so that readers can have a clear picture of how financial institutions perform credit risk assessment. Credit scoring bureaus were the main hub of credit information. They investigate the traditional data such as age, homeownership, outstanding loans, repayments of
The banking and financial services industry is a domain where massive volumes of data are generated and handled every day. After all, banking customers create an astronomical amount of data through millions of individual transactions. Each and every activity generates a digital footprint backed by data. All of this data falls under the umbrella term
What Maria is not yet aware of is that she has another set of data that can uplift her credit score– her Telco data. It is accessible and dynamic, enough to provide indicators of identity, location, and financial activity. Given also the 1:1 ratio of a Filipino to having mobile phones, the volume of Telco data will continue to accumulate and increase over time. These data source has been with her since she started using her phone and prepaid SIM card.
FinScore to deliver ‘Lightning-fast’ Credit Decisions for Kviku…To provide instant online loans for the Philippine market, Kviku forms a partnership with FinScore, the pioneer in Telco Data Credit Scoring in the Philippines.
Impact of COVID-19 on Consumers: What insights on consumer behavior did you notice based on telco data?
In this edition of FinScore Answers Questions (FAQ), Mr. Christo Georgiev, FinScore Country Manager and Chief Strategic Officer, answers the FAQ of the week based on the trends on consumer behavior that the FinScore’s team of Big Data experts have observed based on telco data.
How to Know Your Credit Score in the Philippines Your credit score is arguably one of the most important pieces of information about you and about your overall financial standing. Many Filipinos think that a credit score only matters when you need to be approved for a loan or a credit card. It can affect
Making credit scoring available for all has been the mission of FinScore. It has always been our aim to provide innovative scoring solutions to the ever-growing needs of banks, financial institutions, and credit bureaus, and to become an instrument in promoting financial inclusion in emerging markets.
The Rise of Alternative Data Sources in the Philippines As the demand for financial inclusion grows, alternative data sources are becoming popular tools for credit scoring companies in countries like the Philippines, where a large portion of the adult population is unbanked. Alternative credit scoring, with the use of alternative data sources such as telco
GDS Link Asia Philippines Inc. (GDS Link), a global leader in credit risk management, providing tailored software solutions, analytical and consulting services, integrates with FinScore, an alternative credit scoring company that is powered by telco data and advanced analytics.
The financial technology industry is constantly facing waves of change and growth. Emerging technologies such as big data, artificial intelligence, and machine learning could have the potential to drive further innovation and to improve financial inclusion in developing countries like the Philippines. Data from the World Bank showed that in 2017, only 34.6% of Filipinos