Credit scoring is no longer a binary choice. CredoApp collects a variety of metadata in conjunction with traditional methods to create a digital footprint. This produces highly efficient scorecards with a Gini coefficient of up to 0.6, even for new-to-bank customers, while simultaneously providing the flexibility to tailor for risk appetite.Success storiesSchedule a demo
CredoLab analyses over 75,000 characteristics from a user’s smartphone, working in harmony with existing technology to connect the dots that traditional methods can’t.
Completely anonymous and unreadable digital footprint.
Radically improved Time-to-Yes: less than 1 minute, compared to days in manual process.
Confidently lend to lower-risk clients at lower interest rate.
Automation of credit decision gives confidence in 100% application of credit policy.
Not only is it safer, cost effective, faster, and more efficient, it is also automated and always up to date. In addition, CredoApp provides a much higher level of granular detail about a consumer than traditional methods, allowing you to profile applicants more effectively, track behaviour consistently, and predict the probability of default as an outcome more accurately.
CredoApp can be used as a standalone white label solution or seamlessly integrated into the lender's mobile app. In this way, we decrease the time to yes and simplify the loan or credit card application process across all channels: in-branch, online, on mobile and via direct sales agents.
Run the CredoLab digital scorecard in parallel with your existing scorecard to assist in your lending decision
Merge your existing scorecard with a CredoLab digital scorecard to create a powerful Enhanced Lender Score
Use the CredoLab digital score as one additional characteristic in your existing scorecard.
Contact us to learn more about the multitude of customer journeys we can enable.Schedule a demo
CredoApp creates a rapid, seamless experience for the lender and the end-user.
Bank registers the applicants in the system and notifies them to download the app to proceed with their application.
Applicant downloads the app, registers with their unique reference number and grants permissions to access their smartphone data.
Bank checks the status of all data records on the CredoLab portal, compiles data with their own and makes decision.
With a hassle free client experience in under 60 seconds it couldn’t be easier!
Lightweight and robust, CredoApp can be downloaded in an instant.
After installation the applicant enters the application reference code and allows the required permissions. That's it!
After analysing the digital footprint from the smartphone CredoApp submits data either through a secure API or the web dashboard - depending on the lender’s choice of integration option - combining the power of big and traditional data to provide a more accurate credit score.