First Access Inc. provides instant credit scoring services for informal markets through analyzing mobile phone data and other records with statistical models. The service generates optimal loan sizes, product eligibility determinations, and other recommendations for financial institutions in under three minutes. It also provides reporting and analytics on portfolio quality and profit margins to help clients improve results while maintaining consumer protection.
2. Our products
Copyright 2014, First Access Inc.
Standard Scoring
Premium Scoring
Reporting Analysis
3. How it works
Financial
Service
Provider
3
Employees send
loan applicant
mobile numbers
via SMS.
1
Time: < 3
minutes
Recommendation
delivered to
employee via SMS
and logged
securely online.
2
1
Cloud software !instantly
requests consent from loan
!
applicant via SMS. Software buys records from
mobile companies, analyzes
with proprietary statistical
models customized CLOUD
to each
Financial Service Provider,
and generates: . Optimal loan size or
product
2. Eligibility for immediate
!
disbursal Results logged online
securely for client and sent
via SMS.
Copyright 2014, First Access Inc. 3
5. Credit Analytics - Reporting
Portfolio Quality by Branch
Copyright 2014, First Access Inc. 5
6. Copyright 2014, First Access Inc.
Results
6
Profit Margin
Current With First
Access scores
Losses
Current With First
Access scores
7. Smart Data
First Access turns big data into smart data, separating the signal
from the noise and delivering simple, reliable
information that financial institutions can use right now.
Copyright 2014, First Access Inc. 7
8. Copyright 2014, First Access Inc.
Consumer Protection
8
Understanding full disclosure and informed consent is more
important than ever.
9. Copyright 2014, First Access Inc.
Thank you!
9
www.firstaccessmarket.com
First Access Inc.
601 W. 26th Street
Suite 325
New York, NY 10001
10. Copyright 2014, First Access Inc.
Thank you!
9
www.firstaccessmarket.com
First Access Inc.
601 W. 26th Street
Suite 325
New York, NY 10001
Notas del editor
Credit underwriting is expensive
Informal market leaves no trace
Banks know and purport to understand….risk
Baseline on loan performance information
Banking algorith: loan size, IR, repayment rate
Mobile Algorithm: airtime, mobile money, remittance, how mobile you are, rural/urban, number of people in network, calls/sms patterns
Phone network, remittance money, mobile money transactions, everything costs money, indicative of other facets
World bank has studes on mobile data and credit
Scores they’ve purchased and impact of those scores on their portfolio
- How does this work? Does it snc with my core banking system? What will it look like on a daily basis
Asset quality, collateral coverage, geography, bank branch, loan officer, how fluctuates with interest rates, sector
Decisions on portfolio management to help guide management decisions
Anyone can go to the dashboard, go to the reports on
Span traditional banks commercial MFI, asset financing companies, trasnprotation devices, sanitation devices
-Access Bank, Finca
Challenges: regulatory for the data, education that they need to take
Dedication of consumer protection
Increase profit margins 5-10x
Reduce costs 18-80%
Long-term commit from Vodacom
Models for various business loans
Innovations in Big Data. Harnessing predictability, looking for strongest correlation when we wput this all togethers
Correlations really high for variables, but what does it mean, why does it work this way? Nicole can come in and say this is false correlation
MACHINE learning. It gets better!