MICROCAPITAL | Traditional Credit Bureau Ctos Tapping LenddoEFL to Add Digital, Behavioral Data to Scoring Models to Boost Financial Inclusion in Malaysia

Malaysian credit scoring firm Ctos recently partnered with LenddoEFL, an alternative credit scoring firm with offices in Singapore and the US, to increase the number of people and small businesses for which it can supply credit evaluations. The usage of alternative data can also improve the credit scores of some loan applicants.

LenddoEFL, which was created in 2017 by the merger of Singapore-based Lenddo and US-based Entrepreneurial Finance Lab (EFL), bases its evaluations on “social media activities, browsing behaviour, geolocation and other smartphone data.”

As of late 2017, the organizations had completed a total of 5 million credit evaluations facilitating USD 2 billion in lending by 50 banks, microfinance institutions, insurers, retailers and telephone companies in 20 emerging markets.

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