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.
For more and more people, having a mobile phone means having access to financial services for the first time – without ever setting foot in a bank.Show trend
mAgri: Empowering Farmers!
Sowing mobile phones, harvesting text messages. Smallholder farmers in poor countries get vital information by SMS.Show trend
Trade not Aid
The shift from giving to buying and selling creates a more sustainable kind of independence in international development.Show trend