Credit Scoring Portal by FinScore, now available in i2i Portal
FinScore, a data analytics company and one of the pioneers in telco data-based credit scoring, signed a strategic partnership agreement with UBX Philippines (UBX), UnionBank of the Philippines’ (UBP) fintech subsidiary last February 17, 2020.
The FinScore partnership with UBX aims to enable rural banks in improving loan underwriting processes through the power of alternative data. FinScore’s proprietary telco data-based credit scoring portal is now available in UBX’s i2i platform which connects rural banks and other financial institutions to the main financial network.
Since its launch in 2019, i2i has been known as a blockchain platform connecting 35 rural banks, with 150 branches and 250,000 accounts nationwide. Its blockchain technology enables i2i rural bank members to perform overseas transfers for Overseas Filipino Workers (OFWs) and send funds and payments to over 11,000 across the Philippines.
The partnership fortifies the power of the i2i platform by including the credit scoring portal. i2i rural bank members can fast-track and enhance their underwriting process.
Besides traditional data such as age, work tenure, source of income, and homeownership, they can understand their customers better by using alternative data, including telco data. FinScore’s advanced analytics provides a credit decision in a matter of seconds based on airtime top-up patterns, verification of declared residential location, and device data.
UBX enhances FinScore partnership with ‘Credit Scoring Learning Series’
On the same day of the signing, the first edition of the UBX Learning Series commenced with FinScore as the guest lecturer and spearheaded by UBX Head of Sales Jonathan Engalla. “Credit Scoring for All”, delivered by alternative data scoring expert Angel Dimitrov, focused on how alternative data credit scoring can help banks reach new clients, lower defaults, and prevent fraud. The attendees are composed of more than 20 attendees representing 13 financial institutions.
FinScore is a data analytics and alternative credit scoring company based in the Philippines that is powered by telco data and advanced analytics. Our digital credit scoring models and platform and fraud detection solutions help financial institutions reduce defaults, increase approval rates, and combat fraud.