Credify FinScore Partnership
Credify FinScore Partnership

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 for online finance and commerce, has successfully partnered with FinScore, an alternative credit scoring company in the Philippines that uses proprietary AI and Machine Learning technology in its predictive models to help financial institutions reduce defaults, increase approval rates, and combat fraud.

Credify’s idX technology allows companies active in digital economies, like banking, insurance, and e-commerce, to offer their users a portable digital identity passport, giving them full control over their personal data and the ability to use their data for easier access to online services. Credify’s serviceX technology helps enterprises more efficiently and effectively acquire new users through highly relevant cross-service offers based on anonymous insights into their data. Credify’s technology is being paired with a highly predictive credit scoring technology, powered by FinScore to create a more insightful look at the borrowers’ credibility and creditworthiness in Vietnam and The Philippines. Finscore’s alternative credit scoring services and solutions will be offered within the Credify ecosystem to the local banking, finance, and insurance companies in the Vietnamese market. Furthermore, the two companies plan to roll out the same solution stack into the Philippines market at a later date.

FinScore’s Telco Data Credit Scoring and Fraud Flagging is a credit scoring solution that is based on over four hundred (400) Telco variables such as mobile data and voice usage, top-up patterns, duration of calls, SIM card age, location, and many more. Derived by the most advanced Machine Learning algorithms, the Telco Score has high predictive power, offering a unique data source. The technology can be easily integrated via ACE Web-based Portal or API integration.

Credify’s Chief Executive Officer, Makoto Tominaga, said, “FinScore’s credit scoring and advanced analytic capabilities are a perfect complement to Credify’s suite of self-sovereign identity and trust enhancing technologies. We look forward to working closely with the FinScore team to develop the markets in Southeast Asia as we share a mutual goal of bringing fairer credit systems and personal data empowerment to the underserved peoples of these nations.

FinScore’s Country Manager and Chief Strategy Officer, Christo Georgiev, said, “FinScore’s mission is to provide an innovative scoring solution, becoming an instrument in promoting financial inclusion in emerging markets.   Having access to credit should be a financial right for all. Alternative credit scores have become more relevant in economies where the unbanked or underbanked population is relatively large. We are delighted to partner with Credify to help empower the ever-growing needs of banks, financial institutions, and credit bureaus with fast and reliable credit score decisions.’’

In less than two years of operations, FinScore partners with over fifteen (15) financial institutions and banks in the Philippines, and has delivered more than 3.5 million credit scores, leading to over $500 million in granted loans.

About Credify

Credify is a Singapore based software development company building technologies and services that empower individuals to take ownership of their digital identities, give businesses more effective user acquisition tools and address the need for trust in systems where counterparties to transactions are either anonymous or lack sufficient information for establishing a true basis for confidence in commercial engagements.                               

For more information, visit their website: or follow the LinkedIn page.

FinScore is a financial technology company in the Philippines that offers a powerful credit scoring platform and fraud detection tools based on alternative data, including telco-based data. 

As the pioneer in lending and scoring of the unbanked, we continuously provide fintech services that empower financial institutions, banks, and credit bureaus with flexible platforms to help them make insightful and reliable credit decisions. Contact us today to learn more about our products and solutions for financial institutions.