Credolab Data & Analytics Platform for Lower Credit Risk, Fraud Detection, and Improved Marketing

What is Credolab?

Credolab offers a sophisticated data and analytics platform designed to enhance decision-making for businesses, particularly in the financial sector. By utilizing proprietary technology, it accesses first-party, privacy-consented metadata from mobile applications and websites. This data, processed through advanced data science techniques, generates highly predictive scores and granular insights.

The platform provides tools focused on reducing the cost of risk, eliminating fraud, and improving marketing strategies. It achieves this by augmenting traditional data sources with real-time device and behavioural biometric metadata analysis, offering a high hit rate without relying on personal data. This allows businesses to score previously unscorable individuals, increase approval rates safely, minimize delinquency, and detect various fraudulent activities like geographic mismatches, emulators, device manipulations, and identity theft.

Features

Device Insights: Understand smartphone behaviours.
Behavioural Biometric Insights: Evaluate user behaviours in app or web.
IP Address Insights: Analyse IP address activity.
Browser, Device, IP Address Velocity: Measure frequency of applications.
Application Insights: Segment users based on their apps.
Risk Score: Evaluate the probability of default.
Fraud Score: Compare users to known fraudulent cases.
Propensity Score: Identify users' probability to apply or churn.
Collections Score: Predict repayment probability for delinquent users.
Insurance Score: Calculate the probability of policy lapses and claims.
Real-time Data Analysis: Utilizes device and behavioural biometrics metadata.
SDK and JavaScript Integration: Collects data via mobile SDK or website JavaScript.

Use Cases

Reducing credit risk for lenders.
Improving fraud detection accuracy.
Optimizing marketing campaigns and targeting.
Scoring thin-file and new-to-credit applicants.
Increasing loan or credit card approval rates.
Minimizing loan delinquency rates.
Detecting application fraud and identity theft.
Preventing bonus and promotion abuse.
Improving customer retention and reducing churn.
Assessing insurance policy lapse and claim probability.
Enhancing debt collection strategies.

FAQs

How accurate is the Credolab score in predicting default rates?

Credolab's score is highly accurate, measured by the Gini Coefficient. Models developed deliver average Gini coefficients significantly higher (often 30%+) than traditional bank/lender scores in emerging markets.
Does Credolab collect personal data from the smartphone device?

No, Credolab does not access personal data like messages or contacts. It primarily collects metadata (data about data). Some jurisdictions might define Android ID or Geographic location as personal, which are used solely for fraud deterrence. Data access requires explicit user consent and OS permissions.
How long does it take to go live with Credolab after initial contact?

The process involves understanding objectives, signing agreements, data collection (2-3 months typically, depending on data availability), outcome window analysis, model development (approx. 1 week), and finally, rolling out the digital scorecard for production use.
Can the SDK or JavaScript collect data in the background?

No. The SDK is only active when the scoring process is initiated and becomes dormant afterward. The JavaScript is activated only when the user starts filling the application form and stops upon submission.
What kind of data does Credolab collect?

Credolab collects permissioned, non-personal metadata from mobile devices or websites. Examples include the number of calendar events during work hours, contacts saved per month, apps updated, or music files count. It does not collect the content itself but crunches numbers using ML algorithms.