TendoPay, an installment payment platform for e-commerce customers in the Philippines developed by Philippines-based Templetech Finance Corporation, partners with FinScore as their alternative data analytics partner for credit scoring and fraud flagging.
With the partnership, FinScore provides its proprietary Telco Credit Scoring technology to TendoPay applicants based on over four hundred (400) telco variables such as data and voice usage, top-up patterns, location, and device data. Derived by the most advanced machine learning algorithms, the Telco Score has high predictive power and is offering a unique data source. The telco credit scoring system is delivered online via an application program interface (API) and will enable TendoPay to assess the customers’ creditworthiness under a second, marking a significant step towards financial inclusion in the Philippines.
In addition to credit scoring, FinScore’s fraud detection tools such as geo-location fraud flag and contact person fraud flag will allow TendoPay to verify the authenticity of the applicant’s declared residential address and contact person which are all integrated with FinScore’s Telco Scoring system.
TendoPay can increase their opportunity as an installment payment solution and become one of the fast-growing checkout financing companies in the Philippines. Customers can easily sign-up by visiting their website and providing their name, birth date, one valid officially accepted ID, e-mail address, and a valid mobile phone number. Neither a bank account nor credit history is required to use TendoPay. The service is available nationwide and the limit of purchase ranges from PHP 2,000 up to PHP 30,000.
“FinScore’s proprietary telco credit scoring will enable TendoPay to provide scores for millions of Filipino consumers with limited or no credit history,’’ said Christo Georgiev, Country Manager, FinScore. “We are excited to deploy our platform to help TendoPay to enhance their credit scoring capabilities in the Philippines.”
FinScore is an alternative credit scoring company 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 and Southeast Asia, they continuously empower banks, financial institutions, and credit bureaus with flexible platforms to help them make insightful and reliable credit decisions.
TendoPay is an installment payment platform for e-commerce customers in the Philippines, developed by the Templetech Finance Corporation, a company authorized by the SEC. It gives users the opportunity to buy now and pay later for their online purchase in 2 to 24 months installments. There is no need for credit cards or bank accounts. The company is focused on improving the lives of consumers by delivering fairly-priced, easy to obtain and transparent financial products.