Secure credit scoring model SCSM extracts data points such as orders, invoices, payments, Facebook ad spend from Stripe, Paypal, read only bank access, Amazon and other ecommerce websites. This data is analysed and a credit score provided based on some functions. SCSM allows Lenders use credit scoring in risk-based pricing in which the terms of a loan, including the interest rate, offered to borrowers are based on the probability of repayment. In general, the better a person’s credit score, the better the rate offered by the financial institution.
- API extraction from business API’s
- Analyzing extracted data
- Determining a score and credit risk in real time
- Data Storage for the improved quality of loans.
- Provide access to credit.
- Hedge Funds
- Online Merchants using Shopify, Amazon, Ebay, Magento, WordPress, Woocommerce (via plugins)
- Micro Credit Firms
- Peer to Peer Lending Platforms
- Raise a fund and underwrite loans based on the credit model
- Multinational corporations – providing loans to SME ́s
- Banks read access
- Credit Firms
- GPS data
- Payment Gateways
- Companies House UK and equivalent (director and bankruptcy details)