Moneyman is a rapidly growing fintech based in Spain that started operations in Mexico in 2017. Together with Tiaxa, a leading Transactional Systems and Analytics Company it incorporated the use of Alternative Mobile Data to improve its scoring profiles in certain user segments that do not have enough traditional credit information.
Being at the forefront of granting online personal microcredits for Moneyman it is essential to procure an effective cybersecurity and data verification strategy by using cutting-edge technology to detect false profiles, fraudulent users, fictitious economic information and bank accounts created with identity theft.
In doing so, Moneyman has strengthened its scoring models to profile certain groups of clients with little financial history in the Credit Bureau and managed to increase the approval rate for that segment; in addition to obtaining more data on the customer journey which alows them to improve user experience.
The loans offered by the fintech are for any type of client and can be requested 24 hours a day and from the comfort of home. To date, more than 570,000 personal loans have been granted in amounts between $1,500 and $12,000 Mexican pesos. One of the advantages of obtaining a microcredit with Moneyman is the payment extensions that they offer, that allow you to organize your personal finances, having a period of 7 to 30 days to repay. The advantage is that no type of guarantee is needed.
“We expect to see new data features from telecommunications companies, as we consider this to be one of the most robust sources of alternative data for estimating consumer repayment quality”, says Moneyman.