Bangladeshi banker and Nobel laureate Muhammad Yunus (Muhammad Yunus) the promotion of microfinance , is the poor through microcredit loans , so there is money to do a small business to support themselves, and thus get rid of poverty. However, due to the time-consuming and laborious credit evaluation of lenders, the large-scale application of microfinance is difficult to achieve once.
Nowadays, mobile banking comes. It can collect data to help people who have little formal financial records in the traditional sense to broaden their services. Labor costs are also greatly reduced. For example, Kenyan mobile telecommunications operator Safaricom and African Commercial Bank jointly launched the M-Shwari business in 2012, which can determine customers’ credit scores based on Safaricom’s user information and the trading history of its M-PESA mobile money business. Loan amount.
In addition to payment data, mobile phones (especially smart phones) can also provide more types of information for credit evaluation by borrowers . For example, a person's geographic location data can reflect whether he has a stable job and fixed residence; shopping records can even reveal whether the borrower is pregnant ; and the richness of information obtained by social media is not Yu.
The fintech start-up company Lenddo EFL also uses the Internet to conduct psychological tests on potential borrowers. The question concerns the concept of money (for example, choosing to pay $10,000 at a time, or $20,000 for six months), where your money is spent. , Evaluation of living communities, etc., to determine the reliability of testers loan repayment. To date, the company has completed more than 7 million credit assessments, helping consumers with a lack of traditional credit records to borrow 2 billion U.S. dollars from 50 financial institutions of varying sizes.