A large proportion of the population in Africa is denied access to credit facilities due to lack of a dependable credit scoring mechanism. The available credit scoring mechanisms in the African continent focus only on the data from traditional banking industry, ignoring the vast valuable data from the mobile phones that could be used to generate a dependable credit score.
We are building the new age tools in credit scoring and fraud mitigation to power new models of lending such as using mobile phone data to score a user’s credit worthiness. We employ machine learning algorithms (Artificial Intelligence) that uses the data available on customers’ cellphones to predict the credit worthiness.
Our core focus is providing underlying technology to enable financiers, and retail merchants to offer their goods and services on credit to the unbanked and the underbanked that are not served by the mainstream financial institutions.
Telecel Group Africa Startup Initiative Program (ASIP), with Africa’s top early-stage tech Accelerator, Startupbootcamp Afritech, has selected the 10 tech startups that will participate… read more