Brankas and CRIF Launch a Credit Scoring System for Borrowers With No Credit History

Brankas and CRIF Launch a Credit Scoring System for Borrowers With No Credit History

by October 24, 2022

Southeast Asian open finance platform Brankas and credit solutions provider CRIF have launched the New Evaluation Open Suite (N.E.O.S), a credit scoring system which analyses alternative data sources.

Under the partnership, Brankas will enable the collection of bank statement and other data sources, and CRIF will then apply its machine learning algorithm to the data to generate a credit score.

CRIF and Brankas open banking value proposition

Brankas enables the consent collection and a secure and smooth connection to bank statement data and other alternative data sources through a simple and secure user experience. CRIF then applies an advanced machine learning algorithm that enables an innovative credit score. Brankas’ open banking secure data sharing solutions unlock next generation alternative credit scoring. As a result, lenders benefit from instant and automated statement retrievals over a secure and compliant platform. Source: Brankas and CRIF (2022)

Among the 400 indicators used by N.E.O.S to understand a customer’s spending behaviour are data on groceries, bill payments, investments, memberships, insurance, loan repayments, and subscriptions.

Brankas and CRIF say that these alternative indicators were developed to provide applicants with a limited credit history — such as micro-entrepreneurs, freelance and gig economy workers — access to credit.

Husni Fuad

Husni Fuad

“Borrowers that could be financially strong but without credit history can be excluded from accessing credit by lenders’ credit policies mainly relying on traditional credit data.


As such, lenders lose out on thousands of these potential borrowers every month. To resolve this, Brankas and CRIF have joined forces to co-create N.E.O.S,”

said Husni Fuad, Country Manager of Brankas Indonesia.

Simone Lovati

Simone Lovati

“Financial institutions are lacking data to build critical knowledge and valuable insights to expand their market reach and serve the new-to-credit population.


Brankas and CRIF’s open banking suite will allow banks and fintech players to fill this gap, enabling them to make relevant and reliable credit decisions, while improving the upselling potential to existing customers,”

said Simone Lovati, Managing Director, Asia of CRIF.

Print Friendly, PDF & Email