MEET PARETIX LENDING APP
Expand your reach to new customers asking for quick short term loans.
Proven low risk loans due to unique mobile phone behaviour data.
Increase your customers satisfaction with effortless loan process.
Over the last few years, governments, NGOs and the private sector have invested considerable efforts and capital in order to provide access to the formal financial system for the unbanked population in emerging markets.
The growth in digital payments for the unbanked over the last 10 years has been extraordinary. However, a large portion of the population has moved from being unbanked altogether to being underbanked. In other words, they can now transact digitally, but the majority of them is still unable to easily obtain access to credit and additional banking products that are considered critical for true financial inclusion.
CONNECTING THE DOTS
THE CHALLENGE IN LENDING TO THE UNDERBANKED
Providing access to credit to the underbanked is a significant challenge. Traditional lenders rely on the applicant's credit history, collateral such as property or deposits, or a steady, documented income such as a salary. Most of the underbanked lack these three key assets: they have never obtained credit before and therefore have no credit history, in many cases they have no assets that can be used as collateral and most of them do not work in the formal economy, thereby lacking a steady job or a formal salary slip.
DEFINE YOUR OWN CREDIT POLICY
The Paretix system empowers you to define, execute and monitor a credit strategy that supports your business goals. You can decide to be aggressive with one loan product, and conservative with another, and can alter those decisions at any time.
Your credit policy strategy defines your credit approval policy such as which applicants should be approved as well as the amount that you are willing to lend to each customer and for each product type, while balancing between the need to grow and the credit risk of each loan.
MONITOR YOUR INSTANT LENDING PORTFOLIO PERFORMANCE
To help you integrate digital lending, the Paretix solution includes tools to monitor the growth and credit quality of your instant lending portfolio, segmented into relevant dimensions such as region, product type and more.
In addition to these tools, our team will also help you gain insights from your new portfolio since fast growing credit portfolios, in which the majority of loans have just been extended, tend to show a very high level of volatility in risk profile, which can be confusing if not viewed within the right context.
To learn how Paretix can help empower your bank with instant lending, we offer a free, customized, one-on-one online workshop in which we discuss your requirements, showcase the Paretix system and explain how we would customize the solution to your requirements.
To schedule your own conversation with Paretix, please click the button below.