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