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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 Information for Efficient Credit score Danger 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 collaborating monetary providers suppliers to extend the accuracy of credit score danger assessments for thin-file and under-represented prospects, resembling low-income ladies, leveraging new and different information. The workshop additionally highlighted methods to keep away from biases to extend inclusivity and attain new markets.
In line with the World Financial institution, two-thirds of Cambodian men and women haven’t borrowed from a monetary establishment prior to now yr. With out a formal credit score historical past or collateral, accessing funds for potential debtors could be troublesome. New information affords options for monetary establishments to foretell the credit score worthiness of those “skinny file” prospects.
“Information 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 information that exists on mortgage candidates is larger than it has ever been, and it’s rising. Harnessing the facility of this information for each enterprise and buyer targets means using inventive new information analytics methods and guaranteeing the accuracy of those fashions for under-represented teams,” mentioned Dr. Kelly.
Dr. Kelly additional acknowledged that the following frontier of lending will probably be data-driven. Harnessing this information for correct, efficient, and truthful credit score scoring means constructing sturdy information science foundations. “As the amount of information we have now 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 outstanding trade 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, Test Your Bias! A Discipline Information for Lenders and the Gender Bias Scorecard for Lenders.
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