Credit scoring with alternative data to reach the under-served.
R&D on new application content, building a low-education appropriate application platform, reaching into least-developed markets.
Lenders attempting to reach the un-banked, under-banked, un-scorables, including banks, microfinance institutions, and retailers. Allows for lenders to safely and profitably reach the under-served.
Tested over 250,000 applicants across 26 countries, enabling lending of over $500 million to underserved populations.
To expand application flow by 17,000 users/month, with lending expanded by $13 million/month to underserved populations.
I am not sure a company looking to profit from the poor by lending them money is the best spend of aid. Is there any information on proposed APRs. which will be charged?