Sep 30, 2021

Credolab wins 2021 Financial NewTech Challenge Banking ScaleUp Award

Credolab wins 2021 Financial NewTech Challenge Banking ScaleUp Award

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The 2021 Financial NewTech Challenge rewards the most innovative Financial NewTechs and top collaborations for creating B2B solutions that drive change for the financial services industry. 

Capgemini and Efma, global experts in harnessing the power of technology and facilitating networking between decision-makers, announces credolab as the winner for the Banking ScaleUp Award. Credolab provides an alternative credit score that leverages previously untapped behavioural smartphone and web metadata. This groundbreaking solution makes credit available to worthy yet sometimes overlooked people, tapping into more markets.

The Challenge, powered by FinTechVisor, enables FinTechs, InsurTechs, RegTechs and Financial NewTechs companies to showcase their B2B solutions. These companies, who are the future of financial services, are empowered with an interactive matchmaking tool to cultivate new partnerships with financial institutions.

A total of 1,700 votes were cast by a jury of experts (75% weighting of votes), and online voting accessible to financial institutions and NewTechs (25% weighting of votes), according to four criteria: business potential, originality, impact, and wow factor. Against 306 submissions from 150 financial institutions, credolab is proud to be announced as the Banking ScaleUp Award winner to an influential audience of key decision-makers, senior executives, and major sector players within the financial industry. 

Peter Barcak, Founder and CEO of credolab, said: “We are humbled by this recognition, and it is but a testament to the long way we have come as a company. The dedication of our team, coupled with the confidence of strong partners and the trust of clients spread across 30 countries, has fueled our growth and enabled credolab to become the leader in embedded scoring. We are confident in our embedded technology that provides alternative credit solutions and will continue helping more businesses say “yes” to more people more confidently.”

About credolab

We believe loans improve lives. We also believe that traditional banking processes leave a lot of people out of the process. That’s why credolab is changing the way the world looks at credit. Our pioneering technology calculates credit scores based on people’s mobile and web behavioural data— so lenders can make decisions based on the way people live and work in the modern world. Making loans more accessible to more people benefits everyone.


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