Phnom Penh – Dr. Sonja Kelly, World Vice President for Analysis and Advocacy at Girls’s World Banking, carried out a workshop on “Leveraging the Energy of Knowledge for Efficient Credit score Threat Evaluation” for monetary providers suppliers in Cambodia, on the Hyatt Regency in Phnom Penh, on 11 August 2023. This workshop sought to construct the capability of taking part monetary providers suppliers to extend the accuracy of credit score danger assessments for thin-file and under-represented clients, similar to low-income ladies, leveraging new and different information. The workshop additionally highlighted keep away from biases to extend inclusivity and attain new markets.
In accordance with the World Financial institution, two-thirds of Cambodian ladies and men haven’t borrowed from a monetary establishment up to now 12 months. And not using a formal credit score historical past or collateral, accessing funds for potential debtors could be tough. New information presents alternate options for monetary establishments to foretell the credit score worthiness of those “skinny file” clients.
“Knowledge is the brand new gold. This actuality underscores the potential for lenders to create new alternatives in Cambodia. When well-used, information can get extra credit score to extra ladies extra effectively. The quantity of knowledge that exists on mortgage candidates is increased than it has ever been, and it’s rising. Harnessing the ability of this information for each enterprise and buyer aims means using inventive new information analytics strategies and making certain the accuracy of those fashions for under-represented teams,” mentioned Dr. Kelly.
Dr. Kelly additional acknowledged that the following frontier of lending can be data-driven. Harnessing this information for correct, efficient, and truthful credit score scoring means constructing robust information science foundations. “As the amount of knowledge we now have on new buyer segments grows, so ought to our capability to make use of it,” she mentioned.
On this interactive workshop, Girls’s World Banking shared easy-to-use instruments and approaches for information evaluation to assist monetary providers suppliers determine new enterprise alternatives. No less than 30 executives from distinguished business gamers, together with WING Financial institution, Acleda Financial institution, Cambodian Public Financial institution, AMK Microfinance Establishment, Phillip Financial institution Cambodia, Hattha Financial institution, and Credit score Bureau Cambodia, attended the workshop.
Obtain the report, Verify Your Bias! A Subject Information for Lenders and the Gender Bias Scorecard for Lenders.