The use of AI and mobile data to power credit access

CredoLab CEO Peter Barcak was quoted in an article by Bank Innovation on the use of AI and mobile data to power credit access.  

“Whether it is a developing country in Southeast Asia, South America, or Africa, or a developed country like Singapore or Australia, there is a market for alternative credit scoring companies." 

“Not only does alternative credit scoring provide unbanked, good borrowers with access to credit opportunities, it also protects lenders from exposure to credit risk due to the high predictive power of the credit risk assessment models, which tremendously exceed the predictability of the current traditional credit scoring method used by credit bureaus.”

Click on the link to read the full article - https://bankinnovation.net/2018/05/access-to-credit-widens-with-help-from-ai-blockchain-and-mobile-data/