Fixing global credit
Article
Let’s fight the crisis together!
Assessing risk of new customers is even more difficult in this time of COVID-19. Probably, every lender already had some doubts about the reliability of traditional data in risk assessment. Due to the pandemic traditional risk-management becomes somewhat obsolete. It might not help on the journey to the next normal we all are searching for.
“The core question in this time of crisis is if the customer is going to pay back his loan! Looking at personality and behaviour of people when it comes to money, gives a deeper, objective and full picture of a customer’s likelihood to pay back. The challenge now for lenders is to enrich credit assessments with non-financial data that says something about the ability and willingness to pay back. That will make credit decisioning smarter, more reliable and future proof. In these disruptive times, using alternative credit scoring will help granting credit to self-employed and SME’s across the world”, says Diederick van Thiel, CEO of AdviceRobo. Let’s fight the crisis together! Read the full article (21 April 2020).
Announcement
Demo Day FE Xcelerate Vietnam
FE Xcelerate inaugural cohort concludes on March 26.
Honoured to be part of co-creating innovative solutions for the largest consumer finance player in Vietnam – FE Credit. Supported by GoMedici (19 March 2020).
Award
Nominated: Credit Management & Collection Awards
We are honoured to be nominated for the Credit Management & Collection Awards, category Technology Innovation.
The fifth edition will be held on March 12, 2020 in Milano, Italy. The Credit Management & Collection Awards is an initiative of StopSecret Magazine (18 February 2020).
Update
CreditRobo Questionnaire available in >15 languages
The CreditRobo questionnaire is currently available in English, Spanish, Dutch, Czech, Polish, Turkish, Italian, French, Japanese, Russian, Vietnamese, Sinhalese, Bengali, Ukrainian, Georgian, Romanian and Filipino/Tagalog. More information on CreditRobo in Spanish or Japanese (10 February 2020).
Article
Artificial intelligence credit risk prediction
Global consumer lending has seen a compound annual growth rate of 4.8% forecasted to 2020. The financial system is once again at risk; it is a decade since the credit crunch, yet the causes have not been solved; however, the outstanding amount of credit doubled compared to the lending volume of 2008.
Read all about AI tools for risk prediction in “Artificial intelligence credit risk prediction: An empirical study of analytical artificial intelligence tools for credit risk prediction in a digital era” by Diederick van Thiel, CEO of AdviceRobo.
The article is published in Journal of Risk Management in Financial Institutions (6 February 2020)
Update
MyCreditRobo currently available in 10 languages
MyCreditRobo tool is currently available in 10 languages: English, Spanish, Dutch, Czech, Polish, Turkish, Italian, French, Japanese and Russian. More to come…
Want to take MyCreditRobo for a test drive? You get 20 psychographic scores for free when you sign up. (23 January 2020)
Announcement
AdviceRobo selected in FE CREDIT Xcelerate accelerator program
FE CREDIT, Vietnam’s largest consumer finance company, officially launched the first cohort of the FE Xcelerate business accelerator program. AdviceRobo is extremely honoured to be one of the selected startups to co-create innovative solutions for the Vietnamese market for the next 3 months.
A total of 10 startups were selected from over 170 participants that applied for the inaugural cohort. MEDICI will support the program (27 December 2019).
Announcement
8 start-ups have entered Think Forward Initiative 2019 Growth Track
The Think Forward Initiative (TFI) has sent 8 fintechs into the 2019 Growth Track. The goal? To help improve the financial health of the millions of Europeans struggling to make ends meet.
AdviceRobo is very honoured to be part of this journey. Meet the others: Dyme, Mitto, Monkee, OpSeeker, Pirkx, Salary Finance and Tully (Press Release and photo credits: ING.com, 29 November 2019)
Press Release
A Lending Revolution for Smaller Lenders: MyCreditRobo
Pychographic credit scoring is not only affordable for big banks, but for smaller lenders as well. Credit unions, P2P lending platforms, NextGen banks, FinTech start-ups and others providing credit to consumers and SME’s can assess creditworthiness using psychographics.
Diederick van Thiel, AdviceRobo CEO: “We fully support lenders applying new digital tools. Assessing creditworthiness making use of additional data and new technologies, is available for all lenders. This is a revolutionary step into the future for all lenders”. Read the Press Release.
MyCreditRobo is a fully automated tool, delivering scoring data real time. Only a JavaScript plug in needs to be integrated in the online application process. Lenders can customize the look & feel and will get access to the online dashboard, 24/7. MyCreditRobo is a solution based on a monthly licence for a max. of 100 scores p. month. The questionnaire is currently available in 10 languages: English, Dutch, Turkish, Russian, French, Spanish, Italian, Czech, Polish and Japanese. Get a free trial (12 November 2019).
