Reaction from Mynt: "this merger will set new standards in the industry"

Thanks to our partners at Mynt for sharing their feedback on the merger.

"In a country where native bureaus only have data on less than 5% of the population, the alternative credit scoring methods and technologies Lenddo and EFL have designed and created have enabled us to work towards financial inclusion in the Philippines, from consumers to MSMEs. With the work we've done with Lenddo for our consumers products and with EFL to assess businesses, we can testify that these two companies have many synergies and complementary competencies. With the combination of their knowledge and models, and the combination of social, telco, and psychometric data, we have no doubt that the company resulting from this merger will set new standards in the industry."
-- Anthony Thomas, CEO, Mynt (Globe Fintech Innovations)
 

"With 70% of Filipinos remaining unbanked and with less than 5% in credit card penetration, credit data about the majority is virtually non-existent. This creates a cycle where most Filipinos remain financially underserved. However, with the emergence of technology for alternative credit scoring methods, we are enabled to work towards financial inclusion in the Philippines. With the work we've done with Lenddo to credit score consumers and with EFL to evaluate businesses, it comes as no surprise that a merger between these two innovators is happening. With the experiences and learnings both have acquired separately, we are excited to see the birth of even better and richer data with the marriage of these companies."
-- Jean-Francois Darr√©, Chief Analytics and Risk Officer, Mynt (Globe Fintech Innovations)