CredoLab provides alternative credit scoring and fraud detection.
Overview of Briefing
00:00 – 1:40
Tarun begins the demo with an overview of CredoLab as a company. CredoLab harnesses the data associated with smartphone usage patterns to help identify and assess credit risk.
A discussion of the value associated with alternative credit scoring and the inclusive nature of said begins.
1:40 – 3:00
Tarun explains the necessity of a UI for the user and why they enter the fold through embedding their SDK in a partner’s application.
This demo will be shown inside of the CredoLab UI in order to explain the benefits without exposing any of their current partner’s brands.
3:00 – 5:04
A discussion of how CredoLab avoids capturing any PII by leveraging one single invite code associated with a user. This code is the sole identifying factor used. The process is seamless inside a partner app, but is necessary for this demonstration.
A disclosure review is then presented for the user. Tarun explains that CredoLab values transparency above all and wants to provide the user a full explanation of what they’re opting in to.
5:04 – 6:40
After walking through the front-end user experience, the demo shifts to the bank view where we can see that the application went through as was captured by the bank for review.
The persona inside the bank associated with this action is the credit underwriter / risk team.
Tarun explains that the CredoLab score is focused predominantly on behavioral data focused on understanding the “intent to repay.”
6:40 – 7:30
A discussion of the benefits of alternative underwriting for the swaths of the economy who don’t have full access to the financial system begins.
A deeper explanation of the number of data points being analyzed, the internal data science team’s work, and how their proprietary ML is being used to score the credit risk associated with that borrower.
7:30 – FIN
Tarun reiterates CredoLab’s stance on data privacy and their unwillingness to monetize or share any data that they collect. Additionally, he explains the use cases that would benefit from this specific type of underwriting advantage.
In closing, Tarun explains that CredoLab has 86 clients in over 20 countries and returns the reins to the moderator.