- Credit Application Evaluation: This use case involves the utilization of Customer Insight API to evaluate credit applications from individuals without traditional banking history, particularly in regions with high rates of unbanked populations.
- Credit Card Issuance for Unbanked Youth: This use case is centerer around harnessing the power of credit scoring to break down barriers to financial access for young individuals who lack traditional banking experience or credit history. In many regions, especially in emerging economies, a significant portion of the youth population remains unbanked, often due to a lack of access to formal financial services or limited documentation to establish traditional credit profiles.
- Onboarding of new clients: By utilizing Customer Insights API, companies can significantly streamline their customer onboarding processes. This approach involves integrating Customer Insights API as a reliable assessment tool to evaluate the creditworthiness and risk associated with new clients quickly. By relying on credit scores, companies can reduce or eliminate additional verification steps typically required during the onboarding process. This not only speeds up the process but also improves conversion rates as potential customers face fewer hurdles to entry. The use of credit scores helps ensure that the company maintains a balance between efficient client intake and risk management.
- Targeted Financial Products: Offering personalized financial products and services based on the insights gained from the customer’s telecom interactions.
Customer Insights
API Description
The “Customer Insights” API is designed to provide financial institutions with additional insights into their customers’ behavior based on their interactions with telecom operators.
This API is particularly useful for evaluating credit applications from customers who lack a traditional credit history with the bank.
By integrating the Customer Insights API, banks can retrieve relevant behavioral data from a customer’s telecom provider, allowing them to make more informed decisions when approving microloans or assessing financial risk.
Use Cases
Benefits
- Facilitates financial inclusion by assessing creditworthiness of individuals without traditional banking history.
- Enables lenders to extend credit to unbanked populations, promoting economic empowerment and growth in underserved communities.
- Utilizes alternative data sources such as telecom data to provide financial identity and access to credit for previously underserved individuals.
- Operational efficiency for the API customer (cost savings).
API Portfolio: Authentication and Fraud Prevention
SubProject Wiki: N/a, Independent Sandbox, See API Wiki
(incl. how to meet the team)
API Wiki: Customer Insights
API Repository: Customer Insights
API Repository Status: Sandbox
API Status: In progress
API Version(s) and Release Date(s):
- In progress
API availability: Information which APIs are available in which country and network, and how to get access can be found on the GSMA public launch status page.