An individual’s credit information and credit score is critical reputational collateral and used for multiple purposes by various institutions. Employers review it before recruiting a new employee; landlords require it before renting out accommodation and of course telecom service providers check an applicant’s credit history before providing a post-paid / contract mobile device connection. In the future, a person’s credit information report and credit score will be crucial for a variety of decision making processes, and in addition for availing institutionalised credit facilities.
Credit score and credit information reflect the subscriber’s credit behaviour and provide an indication of the debt management capacity of the subscriber. Credit score is also used by telecom service companies to evaluate the “risk appetite” of the consumer and to assign “credit limit” as per the credit behaviour of the consumer. Value added services may also be offered to consumers based on their credit score.
By taking into account the regular and responsible payments consumers make on their mobile usage, iNSight ‘s scoring and predictive analytics could be used to indicate good future payments for other types of credit options.
Salary Advance Loans
Micro-lending products are changing the way the world implements a financial inclusion program. In the most rural and most poverty stricken parts of the world, people have cell phones, sometimes, even before they have any other basic wants and needs. iNSight combines a socially conscious lending platform with a wide array of mobile financial technologies, resulting in an unparalleled offering to the unbanked.