MICROCAPITAL BRIEF: US-based Startups First Access, Cignifi Analyze Mobile Phone Usage to Measure Creditworthiness of Unbanked

First Access featured in MicroCapital brief:

“A number of startup companies are employing analytical techniques based on “big data” to interpret the mobile phone usage of poor people to assess the creditworthiness of those applying for loans in developing economies. First Access, a US-based technology startup, reportedly has launched a cloud-based service in Tanzania that examines various factors related to the mobile phone usage of potential borrowers, including: the frequency of replenishing airtime, the types of data packages purchased, the number of text messages clients send, the timing of their calls and the manner in which clients interact with social networks. This data is then analyzed and interpreted using proprietary algorithms used to predict loan applicants’ creditworthiness.”