The financial technology They have opted for alternative credit rating models that allow them to assess the risk of their users, through predictive models and thus increase the number of credits placed.
For this reason, different models have been created that collect information and players who are committed to providing an alternative rating.
In this sense, technological palenca commitment to the creation of the income bureau, a model through which it is intended to collect information on the income of a person who seeks to obtain credit or loans and does not have a credit history or has a low score.
“It is for people who do not have a credit history or who have it affected, it is an alternative so that they can be evaluated. Instead of being qualified by your credit history, they are qualified by your income and the time you have been working, “he explained. José Carlo Aguilar, executive director of Palenca.
The manager pointed out that despite the existence of predictive models that are enhanced by Artificial Intelligence (AI), the qualification that is based on income can improve the possibilities of applicants, according to what Aguilar currently mentions, most of the models it does not use income and employment as variables.
“Some models use only the Credit bureauso they can be poor predictive models, the ideal is to complement this information with the income bureau and alternative data to generate predictive models, since the credit bureau tells you intention to pay and the income bureau tells you the ability to pay “Aguilar said.
The technology company indicated that at the moment it has collaborations with 50 financial entities in Mexico and has the capacity to evaluate around 50 million people, it also indicated that in 2022 it will process one million validations through financial data.
The platform also maintains collaborations with technologies such as Uber and financial sector entities such as Popular Financial Societies such as Apoyo Múltiple, it also operates in Peru and Colombia.
