Fixing global credit
1.
Proven Gini of Logistic regression stand alone model is up to 0.66 and lifts of up to +49% in customers’ Gini
2.
Increase in acceptance (+15%), decrease in default (-20%) and operational efficiency (+15%) on average
3.
Average time to fill out online test: 4 minutes
4.
>80% completion rate of online test and >85% of respondents find questions clear and understandable
5.
Solid measures in place to prevent gaming & manipulation. Distribution of scores at customers shows normal distribution over different risk categories
6.
Thin file psychographic credit score is 1 – 1000. Applicant with score >640 has PoD of less than 0.36
7.
Operational in various countries including Spain, France, Italy, Poland, Czech Republic, Slovak Republic, United Kingdom and The Netherlands, as well as outside Europe.
MyCreditRobo is a super easy to integrate online interview tool that generates pyschographic credit scores. Just plug in MyCreditRobo to your site, simply customise so it matches your brand and start generating psychographic credit scores today.
The tool is currently available in >15 languages: English, Spanish, Dutch, Czech, Polish, Turkish, Italian, French, Japanese, Russian, Vietnamese, Sinhalese, Bengali, Ukrainian, Georgian, Romanian and Filipino/Tagalog.
Quick access to psychographic data to assess creditworthiness/for better assessment of creditworthiness
Simple, speedy integration with your system
A cost-effective solution to better acceptance rates
Effective Risk ControlYou get 20 psychographic scores for free when you sign up. Once you’re happy with us, it’s a €500 monthly fee which you can cancel at any time.
Try it for free
| Set up cost (first month only) | -- |
| Number of scores per month | 20 |
| MyCreditRobo Dashboard 24/7 |  |
| View and download Psychographic credit scores | |
| View and download Psychographic sub scores | |
| View additional behavioural data | |
| Customise colours | -- |
| Customise intro text | -- |
€100 set up fee
| Set up cost (first month only) | €100 |
| Number of scores per month | 100 |
| MyCreditRobo Dashboard 24/7 | |
| View and download Psychographic credit scores | |
| View and download Psychographic sub scores | |
| View additional behavioural data | -- |
| Customise colours | |
| Customise intro text | |
MyCreditRobo is super easy to work with. We integrate straight into your website, and you can customise how our automated tool looks so it fits fully with your brand. Check the benefits!
Still not sure how MyCreditRobo works? Here are some frequently asked questions that might help.
The basis of the psychographic credit scoring is in the gathering of non-financial behavioural data with psychographic testing. CreditRobo Psychographic Credit Scoring is about your customers behaviour, lifestyle and attitudes when it comes to financial decisioning.
The AdviceRobo proprietary Psychographic Credit Score turns customers behavioural non-financial data into highly predictive risk scores on payment behaviour. The Psychographic Credit Scoring especially offers deep insights into the creditworthiness of (thin file) borrowers – including students, migrants, self-employed, SME’s, gig workers, millennials and GenZ – applying for any credit.
The AdviceRobo proprietary Psychographic Credit Score:
Making use of the CreditRobo score in the credit decisioning process, will increase acceptance, decrease defaults and financially include.
The AdviceRobo model is psychological statistical model, which it has been developing in close cooperation with Cambridge University. The model is based on borrowers’ motivations, personality traits, values, attitudes, interests, and lifestyles.
AdviceRobo developed, tested and validated its psychographic risk scoring model based on 2 million borrowers from multiple lenders across several countries throughout Europe, Latin America and Asia.
Most important risk metric is the Gini coefficient. In credit risk it is commonly used to evaluate the performance of the model. Gini assesses the accuracy of a prediction around whether a loan applicant will repay or default.
The proven Gini of the CreditRobo Logistic regression model is up to 0.66. With this, the AdviceRobo solution is the Best-in-class thin-file risk scoring solution. With our customers we have shown lifts of up to +49% in customers’ Gini’s.
On request, we will provide other risk metrics e.g. Confusion matrix, Precision, Recall, F1 or Accuracy.
The model predicts the probability of arrears and provides an overall score between 1 and 1000. The higher the overall score, the lower the probability this person will have arrears.
On the overall score, you define your own cut off point and decide, based on your risk policies and risk appetite, what the cut off point for accept/reject is. Based on AdviceRobo experience, we can advise you on the thresholds to be used.
On top of the score, MyCreditRobo provides a more granular psychographic profile based on 7 pillars: Delay of gratification, Financial skills, Materialism, Confidence, Reasoning, Debt attitude and Social desirability. All (normalised) sub scores are also in the range 1 to 1000. Again: the higher, the better.
You receive a login for an online dashboard with (1) the overall scores; (2) the sub scores on the psychographic pillars; and, (3) statistics on the funnel throughput and score distribution.
Scores and sub scores are shown on applicant level.
More on the dashboard:
The dashboard is 24/7 available with real time information and is included in the service. In every section you can easily adjust the data range you want to deep dive in. The scores are downloadable as a csv file for further analysis.
In a short video (3.50 min) we provide some guidance on the features of the dashboard that will give deeper insights in your applicants’ psychographic score and their profile. Also, we show how to use the statistics on the funnel throughput and score distribution in your base.
On average, people require 4 minutes to complete the online interview. The current interview consists of 20 questions.
About 60-90%, depending on the targeted group. On average the completion rate is 80%.
Over 85% of respondents find the questions in the interview clear and understandable.
A person gets a unique Customer ID and cannot fill out the same online interview twice.
The applicant can fill out the questions only once. If one quits the interview without finishing or even switching of the device, he will be redirected to the next specific question once he starts the interview again.
The tool is currently available in >15 languages: English, Spanish, Dutch, Czech, Polish, Turkish, Italian, French, Japanese, Russian, Vietnamese, Sinhalese, Bengali, Ukrainian, Georgian, Romanian and Filipino/Tagalog. More to follow…
Feel free to contact us if your preferred language is not in the list.
Privacy is AdviceRobo’s highest priority. Our product development is based on ‘privacy by design’. The psychographic credit scoring solution works with anonymized data to avoid data breaches. Please check our Privacy & Security Statement
Data protection is the top priority for AdviceRobo. MyCreditRobo is a stand-alone product to risk score new or thin-file borrowers. The solution works on anonymized customer data.
We provide full API documentation on how to implement the AdviceRobo API and JavaScript plug in in your online loan application process. Based on our experience, it takes about 4-8 hours for a skilled web developer to complete and test the technical integration. Of course, we can support if needed.
The technical quality of the Platform is measured by SIG (www.sig.eu) and AdviceRobo was granted with a Maintainability score of a solid 4,1 stars out of 5 (August 2019). The SIG approach and methodology is fact based. The approach is based on ISO IEC 25010 for good software development. Her benchmarking is certified by TÜViT ISO IEC 17025 and calibrated yearly.
