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    Date submitted
  • 03-Sep-2017

ScoringCard

Abstract

We have developed "ScoringCard", which is a credit scoring tool, that allows populations excluded from the traditional financial system, including rural populations, women, young people, SMEs and people with low financial education, to get accounts with banks and microfinance institutions and have better access to micro-credit and micro-insurance without the need for guarantees through :

> Collecting from the tontines, public sources and electronic money transfer services, the background data of their activities of transfer of money, savings in the tontines, payments in the public services

> Processing information collected using appropriate techniques;

> Selling at reduced cost information processed to credit or commercial institutions in the form of detailed solvency reports

> Making credit scores to facilitate the negotiation of micro-credit and micro-insurance contracts.

To sell our services, we organize meeting with women, rural organizations and unbanked farmers to explain them ours services and help them create their “AgryPad account” on the platform scoringcard.com and give their agreements. After that we can use theirs agreements, to collect their data from tontines, public sources and electronic money transfer services. Finally, we make detailed solvency reports and build credit scores for these populations excluded initially.

Video

Original YouTube URL: Open

Introduction Video

Additional Questions

Who is your customer?

Populations excluded from the traditional financial system: - rural populations, - women, - young people, - SMEs - people with low financial education

What problem does this idea/product solve or what market need does it serve?

54 834 000 persons are the populations excluded from the traditional financial system. They are first 100% non-financial educated. Second they are in 95 % cases living in rural areas. Third, they are 77 % composed of women and young people. They have families to feed this their very small or Small Medium Enterprise. 80% of the cases these SMEs are small farms (less of 2 ha). Scoring Card come to solve this problem of financial inclusion.

What attributes will make this idea/product successful? Why do you believe that those features will create success?

"Allow better access to micro-credit and micro-insurance without the need for guarantees, to populations initially excluded from the traditional financial system, just by using their data." This is the innovation. Also : - The digital strategy we have adopted will let us reduce the cost our service. With low cost service we expect to reach most of our public targeted. - In the techniques of scoring we’ll use societal indicators to promote SMEs with sustainable consumptions practices

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

The Scoring Card team members make commitment to execute these activities to make our idea successful: - Creation of Scoring Infrastructure scoringcard.com - Withdrawal of agreements - Signing of service contracts with banks, decentralized financial services - Signing of partnership agreements with data providers (tontines, money transfer service, decentralized financial services, petrol stations, utilities) - AgryPad Accounts Opening Campaign - Distribution of scoring cards and signing of subscription contracts to public market monitoring services and price-quality comparators - Delivery of detailed solvency reports - Delivery of Credit Scoring - Organization of Financial Education Training Seminars We will monitor and evaluate our impacts through these indicators: - The number of persons (women and young people) that get account in a microfinance institution or in a bank through their Scoring Card services - The number of persons (women and young people) having access to micro-credit and micro-insurance without needed guaranties.