MANILA, February 2021 – Tonik, the first neobank in the Philippines operating under its own bank license by the Bangko Sentral ng Pilipinas (BSP) strikes a partnership with FinScore, the Philippines-based Alternative Credit Scoring company. The two fintech startups are on a mission to revolutionize the way Filipinos access loans for various purposes.
FinScore Seals Partnership with UnionBank of the Philippines to Boost Accessibility to Financial Services in PH
UnionBank of the Philippines (UnionBank), a leading universal bank in Southeast Asia, ranked as Asia-Pacific’s second most helpful bank during COVID-19 and the only Philippine bank in the top 20 list, has signed a partnership agreement with FinScore, an alternative credit scoring company that is powered by telco data and advanced analytics, aiming to promote
According to the latest survey from the Bangko Sentral ng Pilipinas (BSP), the number of Filipino adults who remain unbanked is estimated at 51.2 million, out of a total adult population of 72 million. Forty-five percent of the unbanked cited lack of funds as the top reason for not having an account, followed by the
Provenir welcomes FinScore to its Partner Ecosystem to Empower Smarter Credit Decisioning in the Philippines
Provenir partners with FinScore, an alternative credit scoring company that is powered by telco data and advanced analytics, to accelerate and streamline access to decisioning data in the Philippines. Provenir, a leader in risk decisioning and data analytics software, today announced a new data integration partnership with FinScore, an alternative credit scoring company in the Philippines
GROVER (formerly Kris FinSoftware), a world-class provider of innovative digital banking, digital lending, compliance, cybersecurity, and risk management solutions, has partnered up with FinScore, an alternative credit scoring company that is powered by telco data and advanced analytics, aiming to address the complexity involved in making insightful and reliable credit decisions. FinScore and GROVER have
Credify Partners with FinScore to Empower the Unbanked and Underbanked in the Philippine and Vietnamese Markets
Two up and coming names in the fintech industry have partnered to make inclusive credit scoring and data-driven insights available even for the unbanked populations of Vietnam and the Philippines. Credify, who develops enterprise solutions aimed at assisting emerging economies into the digital age through secure, user-centric technological innovations in digital identity and trust systems
Have you ever thought about the amount of data a single person generates in a day? Every message they send, every online transaction they make, each time they post on social media – it all sums up to immeasurable bytes of data that forward-thinking businesses can combine and analyze to gain more information that better
Let’s Discuss Traditional Credit Scoring To start, 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.