© flickr / michaelpollak

First Access

Mobile phone data to run credit checks on small business owners.

The social business “First Access” has developed an algorithm which uses mobile phone data to run credit checks on small business owners. The loan applicant simply has to make their mobile phone data available. The service then investigates whether the person is creditworthy, and what amount could be lent to them. Even paying the loan is done by mobile phone. That saves time for the micro-credit institutions; and the funds reach the borrower faster.

firstaccessmarket.com

firstaccessmarket.com

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