Cash Credit with an innovation award in South-East Asia
Cash Credit, a fintech and lending platform providing financial services to individuals and mSME’s, together with FINTQ by PLDT, have been awarded The Most Innovative Data Analytics Project 2016 at the Triple A Digital Awards held last Wednesday, March 15th at the Four Seasons Hotel in Hong Kong.
The award is granted in relation to Cash Credit’s unique scoring and decision-making methodology to analyze big data from non-traditional sources such as telco operators, social platforms, and handset device data to offer inclusive financial services to both unbanked and under banked segments in developing markets.
Cash Credit has launched operations in the Philippines in 2016 in partnership with Voyager and FINTQ, a 100% subsidiary of SMART Telecommunications and PLDT respectively, the leading MNO in the market to offer unsecured credits for the financially and economically excluded individuals under the brand Pera Agad. The company boasts a very high take-up, satisfaction and recovery rate as a result of its innovative, in-house developed decisioning and scoring methodology to assess creditworthiness and credit-willingness of SMART prepaid subscribers.
Chief Commercial Officer of Cash Credit Group and President of Cash Credit Philippines, Diana Krumova, comments: “We are honored to be recognized by The Asset and the distinguished tech industry leaders from all over Asia. This award is a testament to the hard work and dedication of our team and of our partner FINTQ by PLDT in the Philippines and we would like to thank them for their contribution. We firmly believe that even the most advanced technology and innovation must be all about improving the everyday lives of people. And we see that through our product, offered to financially excluded individuals, we provide a solution that changes the way people borrow money, making it more secure, accessible and affordable for them.”
Cash Credit is a Fintech (financial technology) company founded in 2012 currently operating in four countries on three continents (Bulgaria, South Africa, Cameroon and the Philippines). The company partners with various data providers such as telcos, banks and other financial institutions to offer micro credit products to end users and lending scoring technology to financial institutions. Cash Credit provides its partners with two distinct competitive advantages - a unique scoring methodology to acquire new unbanked or underbanked customers or to enhance services to the existing ones and a fully developed ecosystem to disburse and collect the loans.
The Triple A Digital Awards recognizes financial institutions and technological firms in the Asia Pacific region that have excelled in innovating and developing unique digital experiences. This includes banks, payment firms, technology vendors that are providing banks with digital experiences and innovative technologies, and firms that are transforming banking with technology.