Payday Loan Case Study
A Payday Loan Company Startup in the Philippines
- To launch a mobile-only payday loan product from scratch:
- Loan amount of USD 50-150
- Loan term of 10 to 30 days
- Interest rate of about 1% per day
- No credit bureau data available.
- No parent company's support.
- No historical data available.
- Integrated the CredoLab's SDK into the lender's Android mobile app.
- Developed a set of smart knockout rules based on application data and non-anonymous data collected from the clients' smartphones.
- Launched CredoLab scorecard 5 months after start-up.
Time to Yes
< 1 hour
90% of applications