Cashflow is the #1 issue which keep Medium and Small Enterprises (M/SMEs) up at night. In Asia, only 27% of adults have a bank account, and they might not have collateral or credit reports which traditional financial institutions look for. And the recourse is money lenders who can be extremely expensive; in some cases 8% interest PER MONTH.
Most merchants have customers who can be tracked and the their loyalty to the merchant valued. Rich data in the transactions which customers undertake with merchants and loyalty programs can provide unique customer insight. However the type of data collected, security, analysis, trend, etc. isn’t done properly causing an incorrigible loss of valuable insight.
There are innovative lenders who are willing to lend to these unbanked SMEs at competitive rates, but they find it hard and/or expensive to acquire these merchants. Further, they need access to transaction data from these merchants.
Loyalty Credit intends to help address these problems for merchants and lenders, starting with access to credit using an innovative technology platform which leverages machine learning to provide better credit ratings.