SMECreditPro is a new kid on the block – on the fintech scene in Cameroon – on a mission to provide startup businesses access to funding. The fintech lending institution will use various credit rating tools and its own internally aggregated data to vet loan applicants.
Loan applicants – micro, small, and medium enterprises (MSMEs) – will have to fill out online forms, and the information they provide will be cross-checked with data from other third-parties doing credit ratings.
The decision to give load by SMECreditPro will be reached on using Artificial Intelligence (AI) and Machine Learning (ML), which will be doing the actual credit ratings. The businesses that do apply for the loans will also get the following from the robo advisory service:
*A SMECreditPro 360° rating
*Actionable business improvement insights
The platform is also open to sharing its data with other verified lenders, corporations, and government agencies. All in line with the spirit of credit information sharing in order for an individual money lender not to risk their money with a borrower with a history of defaulting payments.
Industry experts say that data sharing across …read more