CTOS Data Systems Sdn Bhd, Malaysia’s largest credit reporting agency, has entered into a partnership with LenddoEFL.
Karangkraf | Beri peluang rakyat akses perkhidmatan kewangan
AGENSI pelaporan kredit terbesar Malaysia, CTOS Data Systems Sdn Bhd (CTOS), menjalin kerjasama dengan LenddoEFL bagi memperluaskan perangkuman kewangan pengguna Malaysia yang kurang atau tidak mempunyai sejarah kredit melalui ‘CTOS Non-Traditional Data Score’.
Ketua Pegawai Eksekutif Kumpulan CTOS Holdings Sdn Bhd, Dennis Martin berkata, walaupun markah kredit ramalan tentang tingkah laku pembayaran telah meningkat tahun demi tahun, namun sekumpulan besar peminjam yang berpotensi baik ketika ini dinafikan akses kepada kredit disebabkan kurangnya sejarah kredit.
“Disebabkan pemberian pinjaman pengguna lazimnya bergantung kepada skor kredit, individu ini mendapati diri mereka terpinggir daripada ekosistem kredit dan juga sukar menambah baik markah kredit mereka.
“Dengan memanfaatkan sepenuhnya data tingkah laku dan data digital yang diizinkan penggunaannya oleh pengguna, CTOS dan LenddoEFL akan melancarkan platform keputusan kredit universal yang mampu menaksir kebolehpercayaan kredit mana-mana rakyat Malaysia, baik yang ada sejarah kredit mahupun kurang sejarah kredit,” katanya dalam kenyataan media.
Menurut Dennis, kini banyak individu yang dahulunya kurang dilayan oleh institusi kredit atas alasan risiko kredit tradisional mereka, akan menikmati peluang untuk akses kredit.
Finance Digital Africa | Can big data shape financial services in East Africa?
Psychometric big data—including online quizzes to judge character or personality traits and analysis of Facebook “likes”—is garnering increased attention. Suppliers of psychometric data or psychometric tools, such as EFL, believe not only that their data and analytics are predictive but also that they have a key advantage in their applicability to everyone, even clients with limited credit history (“thin-file” clients), as a starting point. When layered with other big and traditional data sources (e.g., social media, mobile phone, bureau data, bank historical data), proponents expect psychometrics to become even more powerful. Indeed, Equity Bank conducted an experiment with EFL’s psychometric scoring model and found it both predictive and useful; they plan to integrate it into applicable models across their regional subsidiaries.
Moreover, Juhudi Kilimo decided to partner with EFL in order to evaluate character as part of their risk assessment. This was previously carried out by loan officers, but they believed the EFL approach would be more objective.
World Bank | Using a PhD in development economics outside of academia: interviews with Alan de Brauw and Bailey Klinger
Today's interviews are with Alan de Brauw, a Senior Research Fellow in the Markets, Trade, and Institutions Division at the International Food Policy Research Institute; and Bailey Klinger, the founder and (until recently) CEO of the Entrepreneurial Finance Lab
CTOS, Lenddoefl extends financial inclusion in Malaysia
New Strait Times | CTOS & LenddoEFL partner to boost financial inclusion in Malaysia
KUALA LUMPUR: CTOS Data Systems Sdn Bhd (CTOS), Malaysia’s largest credit reporting agency, has entered into a partnership with LenddoEFL to enable access to financing for Malaysian consumers with little to no credit history.
Both CTOS and LenddoEFL have aided banks, lending institutions, utility and credit card companies to reduce risk, increase portfolio size, improve customer service and accurately verify applicants. Read full article.
Portal Taxi | CTOS & LenddoEFL Partner to Boost Financial Inclusion in Malaysia
Featured partnership launch between CTOS and LenddoEFL.
Markets Insider | CTOS & LenddoEFL Partner to Boost Financial Inclusion in Malaysia
KUALA LUMPUR, Malaysia, and SINGAPORE, CTOS Data Systems Sdn Bhd (CTOS), Malaysia's largest credit reporting agency, has entered into a partnership with LenddoEFL to achieve a joint vision of financial inclusion for Malaysian consumers with little to no credit history. Both fintech leaders have aided banks, lending institutions, utility and credit card companies to reduce risk, increase portfolio size, improve customer service and accurately verify applicants. Read full article.
Economic Times India | LenddoEFL appoints Darshan Shah as Managing Director, India & South Asia
KOLKATA: Singapore-headquartered fintech company LenddoEFL has appointed Darshan Shah as managing director, India and South Asia, effective April 16.
In his new role, Shah will be responsible for growing LenddoEFL’s footprint in India and South Asia as well as bring more financial institutions in the region on board as clients who would be using LenddoEFL services.
Shah comes with close to two decades of experience in the credit information industry. He has worked with large organisations like TransUnion CIBIL and Equifax (Canada) in leadership roles. His last role was as director (credit services) at Experian.
SME Finance Forum | 10+ Innovative Fintechs to Demo the Africa SME Finance Forum 2018
The Africa SME Finance Forum 2018 will examine the key challenges faced by MSMEs in Africa, and explore innovative local and global best practice solutions to promote youth entrepreneurship and enhance access to financing for MSMEs.
The TechPitch will be held in the afternoon of May 15, and will provide an opportunity for innovative fintechs to demo their product to global and emerging market investment firms, financial institutions and other Forum participants. This exclusive opportunity is one of the key features of the conference and is open to a limited number of financial technology innovators working in the SME space. Approximately 12 fintech companies are selected to demo their products to Forum participants during this 90-minute session.
We are pleased to already have a number of fintech innovators such as Lendable, TALA, SME Credit Pro, Mobbisurance, N-Frnds,LendEnable, Alternative Circle, Lenddo, Q-Lana, Topicus, Uber and many others joining us during the TechPitch. Read full article.
PRWeb | LenddoEFL Deepens Commitment to Financial Inclusion in India with New Leadership
LenddoEFL, a Singapore-based fintech company powering data-driven decisions for financial services, has appointed Darshan Shah as Managing Director, India and South Asia. Darshan is a credit bureau veteran and he brings close to two decades of experience including credit reporting, scoring, analytics and technology.
“Having worked across geographies and being well-versed with the problem of credit coverage, I look forward to leveraging my experiences to work on the challenge of financial inclusion in India,” said Darshan Shah, Managing Director, India and South Asia. “The need is massive with less than 45% of Indian adults included in the credit bureau and less than 10% borrowing from a financial institution in the last year, as per the World Bank.”
Media Telecom | Orange Bank comienza a ofrecer micropréstamos personales
Micropréstamos: un negocio en aumento
La posibilidad de ofrecer micropréstamos a los usuarios tienta cada vez más a la industria. No solo a la banca digital. El año pasado, Telefónica de España presentó Movistar Money. Se trata un servicio de préstamos al consumo. Asimismo, una de sus principales características es que son preconcedidos a los clientes de la operadora.
En Latinoamérica esta tendencia es todavía más importante. Así, en México, Lenddo y Entrepreneurial Finance Lab (EFL) se fusionaron para brindar productos financieros para el sector no bancarizado. Read full article.
QQ | Paolo Montessori, LenddoEFL COO, featured in an interview with Tsinghua Financial Review
The Edge Markets | Cover Story: Scoring with big data
"The exponential rise in the use of smartphones, mobile wallets and e-payment systems has given birth to a new technology that uses big data to determine credit scores. The technology has been lauded for helping the underbanked gain access to credit, representing the first step towards financial inclusion.
The use of non-traditional data to churn out credit scores is now expanding beyond the underbanked and unbanked to reach even well-banked individuals who already have a credit score. This pool of data, which is used to discover patterns of users’ repayment behaviour based on their mobile phone and social media usage, is playing an increasingly important role in Asia alongside traditional credit scores." Read the full article.
The ASEAN Post | The potential of big data for microfinancing in Southeast Asia
"Microfinance is described by the Financial Times Lexicon as a service where financial institutions will back small start-ups and would-be entrepreneurs with small loans, in the poorest parts of the world. In Southeast Asia, the biggest microfinance players currently include Asia Pacific-based LenddoEFL, Singapore's CredoLab and the Philippines’ Lendr, for example..." Read full article.
Markets and Fintech | El Big Data en la evaluaćión del riesgo de crédit
LenddoEFL, fundado por varios profesionales de perfil tecnológico en 2011, nacía con la misión de mejorar el acceso bancario a la emergente clase media de los países en vías de desarrollo. Con este objetivo en mente se acercó a las principales entidades financieras de Estados Unidos con la idea de estudiar los datos que éstas tenían sobre su población objetivo y poder elaborar un algoritmo de credit scoring alternativo. Tras la negativa de los bancos decidió emprender el viaje en solitario.
Siete años después, Lenddo parece haber dado con algo parecido a la receta de la tarta de frutas perfecta. Analizando multitud de variables, desde el comportamiento en redes sociales, hábitos de comercio electrónico o la velocidad a la hora de rellenar los formularios de solicitud afirma reducir la mora en un 12%, aumentando las aprobaciones en un 15% y ser capaz de realizar una evaluación en menos de tres minutos. Read full article.
Quienopina | Las redes sociales factor determinante para que le aprueben un crédito
Sí, leyó bien las redes sociales. De acuerdo a su interacción y lo que hace en ellas diferentes empresas y hasta entidades financieras pueden determinar si le aceptan o no un préstamo. Oscar Torres, director de Lenddo para América Latina, empresa que analiza la información para determinar si una persona podría pagar o no, explica que lo que ellos hacen es usar la información de redes sociales, de dispositivos móviles o de la personalidad de la gente, para decirle a la entidad en menos de un minuto si es viable o no aceptar los préstamos.
Lenddo a diferencia de Lineru, trabaja directamente con los bancos, en aplicaciones como la de Nequi de Bancolombia, con el fin de generarles a estas una calificación del cliente, tomando los datos de la central de riesgo y haciendo un análisis conjunto con las herramientas no tradicionales. Read Full Article
Blumberg Capital | The World's Most Innovative Companies 2018 Honorees by Sector
Lodex Blog | The Future of Data-Driven Financial Inclusion Posted by Aisha Hillary-Morgan
"In Australia, millions of people find themselves in a chicken-or-egg-type dilemma when it comes to getting credit. Even though they have steady income, they still can’t access credit because of lack a formal credit history. Yet, most of these consumers carry a smartphone, are online and connected through social networks, leaving behind a digital footprint that can be analyzed to better understand who they are and their attitudes toward credit.
This is why we have teamed up with LenddoEFL, the leading technology platform powering data driven decisions for financial services, to help them create more of a credit story. Your Social Score will use, with your consent, your digital footprint to provide additional insights for borrowers and for lenders to more efficiently make a preliminary assessment." Read the full article
Originally posted by our partner Lodex
New Peer-to-Peer Lending players in Vietnam
The establishment of Lendbiz comes on the heels of the launch of LenddoEFL in Vietnam. Orient Commercial Joint Stock Bank (OCB) announced last week that it will become the first bank to offer LenddoEFL’s psychometric scoring solution in Vietnam. Read full article.