15 April 2020
Pretoria, South Africa, April 15, 2020 --(PR.com)-- smartadvance (Pty) Ltd., part of the Finclusion Group and a South African company focusing on digital financial and insurance solutions, have signed a partnership agreement with Innovative Assessments International, Ltd. (“IA”) to promote financial inclusion and extend more credit to those in need.
According to the World Bank, over half of Sub-Saharan Africans lack a bank account and access to formal financial services, which are fundamental for economic growth. smartadvance recently tested IA’s psychometric credit scoring solution, Worthy Credit, to provide complementary data for further enabling financial inclusion in Africa. The company has since decided to start implementing Worthy Credit in both Kenya and South Africa.
“We found Worthy Credit’s empirical results to be impressive,” says Mr. Mark Young, CEO of smartadvance South Africa, “and we are excited to add the technology to our assessment model.”
“Our company is fortunate to be a part of GetBucks and Finclusion’s digital financial services. We look forward to working together, and having a positive impact in the region,” adds IA Founder & CEO, Saul Fine, PhD.
smartadvance is a South African financial services and insurance business with operations in South Africa, Eswatini and Namibia. As part of the Finclusion Group, it assists the remaining portfolio companies with credit solutions. Among the company’s multiple brands, GetBucks and Haraka enable financial inclusion and empower its customers with unique consumer and business lending products. https://smartadvance.co.za
About Innovative Assessments
Innovative Assessments (IA) is a fintech company that uses psychometrics to assess creditworthiness based on a borrower’s personal character. IA’s solution, Worthy Credit, augments traditional credit scores, and helps lenders from around the world to increase loan approvals among marginal and underbanked customers. https://www.iassessments.com