Adding social data to your credit helps because...
Current credit scoring divides consumers into 3 different groups.
Currently
Good Bad UnsureAdd friendly score
Good Bad UnsureSocial media offers a personalized and internationally standard source of big data suited for millennials, travelers, and underbanked populations. Social credit scoring is revolutionary because it allows us to:
Analyze similar data to that of traditional credit scores: employment status, residential history, and level of education.
Enhance existing score accuracy with new predictive indicators like social network strength, and online behavioral and communication lifestyle patterns.
Current credit scoring divides consumers into 3 different groups.
Currently
Good Bad UnsureAdd friendly score
Good Bad UnsureWe believe in financial inclusion for the 21st century consumer. By leveraging social media data, we help bridge the gap between true human creditworthiness and objective credit decisioning. For borrowers, a FriendlyScore means access to financial services that were once out of reach. For lenders, FriendlyScore helps you better serve your thin-file borrowers and improves conversion rates.
#ChangingTheGame :)
Incredible use of #socialmedia data by @FriendlyScore to determine credit scores http://ow.ly/RoBOf #fintech #wow
great article on FB's new patent on social lending practice. Check out @FriendlyScore, they do this with 5X more data points
