Using Experian’s global expertise and knowledge, the introduction of Lenddo’s technology into Experian’s platform will provide financial firms with more information to offer appropriate financial services. Consumers who are unbanked or underserved by major financial institutions will gain access to a gamut of financial services including remittances, savings, credit and wealth management services.
Southeast Asia is poised to remain one of the fastest groups of economies in the world, with an unbanked population of about 438 million people. With the wealth of alternative data and innovative technology available, financial access for the unbanked has seen a rapid rise and many opportunities created to serve this new and underserved market.
Commenting on the partnership, Nick Boyle, Managing Director for Southeast Asia and Emerging Markets at Experian said, “We are committed to enabling financial inclusion in Southeast Asia. The partnership with Lenddo further enhances Experian’s global expertise with local knowledge to reach the unbanked population in the region. Our aim is to work together to provide emerging markets access to financial services that would positively impact their lives, and for financial institutions to better tailor their products for this market segment.”
Richard Eldridge, CEO of Lenddo, added, “We are pleased to partner with Experian to further expand financial inclusion, allowing millions of people access to life improving financial services.”