Less than 1 min.Read

Belvo: Applies Open Banking to help lenders in Latin America

January 29, 2021

Belvo developed a new solution allows credit lenders in Latin America to get a real picture of their clients’ income
The solution uses Belvo’s API to access customer data, then aggregates and enriches this information
This new income verification product already available in beta the first one designed to meet the particular needs
Only 18 percent of adults Latin America use credit products from financial institutions, compared to 68 percent in the US
Credit lenders lack access to available sources of data can use to create accurate risk models for their product offering
Belvo developed a data-science-based model that analyzes user account movements to find patterns in the frequency