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| Source: pera247 website. Screenshot of the pera247 app. |
· Pera247 is a fully digital lending solution that aims to provide unsecured small-ticket, short-term consumer loans for up to 90 days through a mobile wallet
· Credit assessment tools analyse mobile behavioural data and other alternative sources of data to make fast and reliable credit decisions
AsiaKredit, a digital consumer lender focused on Southeast Asia, today announced the launch of pera247 in the Philippines. The digital lending solution aims to provide unsecured small-ticket, short-term consumer loans for up to 90 days to the country’s underbanked population with no existing credit or collateral history, via a mobile app.
As part of the credit assessment process, pera247 considers both traditional and alternative sources of data, such as behavioural mobile data from an applicant’s smartphone. AsiaKredit says pera247 is capable of highly predictive digital credit assessments that increase loan approval rates while reducing its risk.
· Credit assessment tools analyse mobile behavioural data and other alternative sources of data to make fast and reliable credit decisions
AsiaKredit, a digital consumer lender focused on Southeast Asia, today announced the launch of pera247 in the Philippines. The digital lending solution aims to provide unsecured small-ticket, short-term consumer loans for up to 90 days to the country’s underbanked population with no existing credit or collateral history, via a mobile app.
As part of the credit assessment process, pera247 considers both traditional and alternative sources of data, such as behavioural mobile data from an applicant’s smartphone. AsiaKredit says pera247 is capable of highly predictive digital credit assessments that increase loan approval rates while reducing its risk.
At the end of the credit decision journey, the pera247 app also acts as a mobile wallet for the successful applicant, where funds will be disbursed to and linked to thousands of physical payment centres, within hours of the application.
AsiaKredit’s Co-Founder and CEO Mike Singh commented: “We are excited to take consumer lending fully digital in the Philippines as we see a dynamic shift in consumer digital behavior to access financial services through mobile and online channels. Through pera247, AsiaKredit has a huge opportunity to impact the lives of hundreds of millions unbanked clients in Southeast Asia, leveraging the high mobile penetration in the region to foster financial inclusion.
AsiaKredit plans to expand its product offering to other countries across Southeast Asia, with Indonesia in its sights for 2018.
