SB Finance Company, a subsidiary of Security Bank Corporation, has partnered with FinScore to enhance its credit scoring efforts using alternative data in order to serve many Filipinos who lack a financial history.
Using FinScore’s Telco Credit Scoring Solution, SB Finance said it will be able to predict the creditworthiness of borrowers and assess their capability to avail of the company’s various loan offerings.
“With several Filipinos needing access to funds, being able to determine their creditworthiness is critical, as we rise from the economic effects of the pandemic,” said SB Finance President and CEO Abbie Casanova.
She added that, “Through our collaboration with FinScore, more Filipinos will be able to avail of SB Finance’s services therefore improving financial inclusion to those with no credit footprint.”
“The team is tremendously thrilled to have SB Finance onboard. It’s a fantastic partnership, since FinScore and SB Finance share the same mission of making credit accessible to Filipinos who lack financial history,” said FinScore Country Manager and Chief Strategy Officer Christo Georgiev.
He added that, “This partnership will pave way for the underserved markets to gain confidence and establish creditworthiness powered by alternative data and predictive analytics.”
FinScore's solutions are based on over 400 telecommunication variables such as voice usage, top-up patterns, duration of calls, SIM card age, location, and many more.
Derived through cutting-edge systems, such as Gradient Boosting and Neural Networks, the Telco Score has high predictive power and offers unique data about consumers. The technology can be easily integrated via ACE Web-based Portal or API integration.
With the growing needs of enterprises to grow their businesses and address the market’s needs, FinScore continues its pursuit of developing and providing analytics solutions for a more inclusive scoring.