CredoLab was recently featured in the Fintech News SG as one of the innovative fintech startups emerging in Southeast Asia to make most of the potential of alternative credit scoring. Read the whole article here.
Here's what it said about CredoLab's bank- grade solution:
CredoLab partners with lenders across Southeast Asia and integrates its digital scorecard into their existing credit scoring infrastructure.
With a mission to bring credit to the vast underbanked population in the region, CredoLab has developed a credit scoring mobile app, CredoApp, which evaluates over 50,000 data points from a client’s phone and produces a credit score in under two minutes.
CredoLab currently has ongoing operations in Singapore, Indonesia, Philippines, Malaysia, Thailand, Vietnam and Myanmar.
The company claims that phone data is “a startlingly precise” indicator in a client’s repayment behavior. This allows CredoLab to improve both the availability of credit to those with no banking history allowing a lender to reduce their cost of risk and increase their approval rate amongst other benefits
Read the whole article here.