Credolab and Provenir Partner to Boost Financial Inclusion With Behavioral Data

A new partnership between credolab and Provenir will enable financial institutions to leverage behavioral data to handle the challenges of credit risk management, fraud detection, and more. The companies announced this week that credolab’s mobile SDK will be made available in the Provenir Data Marketplace, a data hub for Open Banking, KYC/KYB, verifications, and other resources.

In a statement, credolab co-founder and CEO Peter Barcak added financial inclusion to the list of challenges that the partnership responds to. "Credolab believes that traditional lending processes exclude many people because they target applicants with pre-existing credit history, typically in the middle- and high-income groups," Barcak said. "Our aim is to make credit available to all by giving lenders access to a previously untapped, highly predictive source of behavioral data."