The partnership between FinScore and Provenir aids financial services in the Philippines by integrating telco data, thereby enhancing credit evaluation for the unbanked population through a prebuilt low-code interface within Provenir’s software.

Provenir views this collaboration as pivotal to leveraging alternative data sources like telecom records and artificial intelligence (AI) to boost financial inclusion. They believe that utilizing such tools can significantly benefit businesses in the fintech sector.

By leveraging telco information, FinScore can accurately assess creditworthiness, addressing the significant gap faced by millions of unbanked Filipinos. This integration through Provenir’s low-code platform aims to make financial services more accessible and inclusive for this demographic.

Recent Collaborations

In March 2022, FinScore partnered with ADVANCE.AI to enhance credit analysis and risk management. This partnership leverages FinScore’s digital solutions, such as telco data for credit scoring and fraud prevention.

Earlier, in September 2021, FinScore collaborated with Welcome Bank (a subsidiary of Korea’s Welcome Financial Group). The bank integrated predictive credit scores into its risk models and utilized FinScore’s anti-fraud tools including geo-location and contact person verification.

Provenir recently teamed up with SEON to develop new fraud prevention strategies. SEON’s system uses real-time data from email addresses, phone numbers, IP addresses, or locations to establish users’ digital footprints while adhering to GDPR regulations. This approach helps in managing risk and increasing transaction acceptance.