Kviku, one of the fastest-growing fintech lending groups globally, seals a partnership with FinScore Philippines as their alternative data analytics partner for credit scoring and fraud detection.
The fast-growing international fintech company provides instant online credit solutions in Russia, Kazakhstan, Spain, Poland, and the Philippines. Since Kviku’s start of operations in 2013, they have financed over USD 70 million of loans in forms of virtual credit cards, point-of-sale, and cash. In 2020, they have started operated in the Philippines.
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.
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. Kviku will access the scores through API, thus enabling Kviku to make better credit decisions thus reducing loan defaults.
In addition to credit scoring, FinScore’s fraud detection tools such as geo-location fraud flag and contact person fraud flag will allow Kviku Lending Co. Inc., to verify the authenticity of the applicant’s declared residential address and contact person which are readily integrated with FinScore’s Telco Scoring system. The information provided is based on real-time data thus producing credit decisions in less than a second.
The power of Telco Data, which a type of alternative data, will enable Kviku Lending Co. Inc. to score and provide financial products to the once untapped underbanked and unbanked adult population in the Philippines.
About Kviku Lending Co. Inc.
Kviku is one of the fastest-growing Fintech lending groups globally. The B2B2C credit platform provides instant lending solutions to customers all over the world.
The first loan was launched in 2013 and has since then developed cutting-edge credit scoring and online identification technology allowing the company to gain a solid footprint in every country of operation.
FinScore (https://www.finscore.ph/) is a financial technology company in the Philippines that offers a powerful credit scoring platform and fraud detection tool based on alternative data, including telco-based data. As the pioneer in lending and scoring of the unbanked in the Philippines, they continuously empower banks, financial institutions, and credit bureaus with flexible platforms to help them make insightful and reliable credit decisions.