Experian MicroAnalytics specializes in helping people in emerging markets create financial identities using alternative data. Financial identities lead to greater access to finance and help fuel economic development, stimulate growth and improve quality of life. Created in 2010 to solve the “thin file” problem in regions lacking consumer access to credit, Experian MicroAnalytics provides the data solution needed to help people create progressively stronger financial identities. The key data source used is mobile behavioral data. Across Latin America, Asia and Africa, many individuals have access to mobile phones, yet few have access to financial services. Gathering this data, financial identities are created, providing access to an initial set of financial products such as prepaid airtime credit, an important product since most mobile users in emerging economies run out of prepaid balance several times per month. Anytime a mobile user needs airtime, credit can be accessed instantly, and observing the user’s interaction and repayment patterns, stronger financial identities are created. Over time, additional financial products are available, such as handset finance, personal loans and more, all available via a fully digital process.
Nominated for: Best Under-banked or Emerging Market Solution
Experian MicroAnalytics’ model provides value to all parties: mobile operators monetize their data in the most secure and privacy-compliant manner, while building customer loyalty. Financial institutions expand their retail base under a secure, paperless, cost-effective digital model. Consumers get access to a wide range of financial products. Experian MicroAnalytics is leading the alternative data FinTech sector with 40 mobile network operator partners across Latin America, Asia, Africa and the Middle East. The company has deployed over 4.4 billion credit offers to date.