Alternative Data Credit Score and Verification

About

LenddoEFL’s mission is to provide 1 billion people fast and convenient access access to low cost, powerful financial products. They use AI, advanced analytics and behavioural data helping serve the underbanked people and small businesses in emerging markets.

LenddoEFL use new, alternative sources of data, such as psychometric assessments, mobile phone data, digital footprints and more. These can be used in place of traditional financial history to understand credit risk and identity verification.

Capability and features

LenddoEFL offers businesses a Software As A Service (SaaS) packages, improving the way financial institutions perform credit scoring and borrower verification. LenddoEFL integrate their API/button into their client’s applications, allowing them to on-board new borrowers and gather information. Thanks to LenndoEFL’s feature library, clients report increases f in portfolio size while maintaining risk levels, decreases in default without decreasing approvals, and a increases productivity due to efficiency gains and reduction in turnaround time. All of this adds up to significant return on investment, with ROI upwards of 1300% in some cases.

Progress to date

Lenddo have been recognised as one of Fast Company’s World’s Most Innovative Companies in Finance 2018, were the Grand Prize Winners at the 2017 MIT Financial Inclusion Challenge, and are a World Economic Forum Technology Pioneer.

LenddoEFL have worked with over 50 leading financial institutions across 20 emerging markets and helped more than seven million people get access to financial services.

Lenddo have assisted over 5,000 farmers, and partner with FICO to reach emerging markets such as Russia, Turkey and India.