HappyCash partners with Finscore to enhance the digital lending experience
Quote Manila Standard [https://manilastandard.net/spotlight/314575387/happycash-partners-with-finscore-to-enhance-the-digital-lending-experience.html]
HappyCash, a fintech platform operated by Yinshan Lending Inc., has officially launched in the Philippines. It aims to provide seamless and affordable digital lending solutions to market segments with limited financial access.
As a licensed financing company registered with the Securities and Exchange Commission, HappyCash is committed to offering quick and accessible financial services with competitive terms, ensuring safety, transparency, and convenience, all while strictly adhering to the applicable laws and regulations.
HappyCash differentiates itself in the digital lending space through its commitment to ethical collection practices, prohibiting collection harassment, and ensuring all collection activities are conducted with respect and professionalism, in full compliance with Philippine regulations.
HappyCash has partnered with telco scoring companies like FinScore to enhance its credit evaluation process. FinScore specializes in alternative credit scoring and fraud detection solutions for banks, financial institutions, and credit bureaus.
Advantages of HappyCash:
- Enhanced Credit Assessment: By integrating FinScore’s telco-based credit scoring, HappyCash can effectively evaluate the creditworthiness of applicants lacking traditional credit histories, enabling more informed lending decisions.
- Fraud Detection and Mitigation: Utilizing FinScore’s fraud detection tools, HappyCash can identify inconsistencies in applicant information and other telco metrics, reducing the risk of fraudulent activities and ensuring the integrity of its lending operations.
- Market Expansion: The partnership allows HappyCash to use credit scoring to tap into the unbanked and underbanked segments of the population, thereby expanding its customer base and promoting financial inclusion.
Benefits for clients:
- Access to Credit: Individuals without traditional credit records can now access financial services through HappyCash, as telco-based scoring considers their digital footprints, enabling fair assessment and inclusion in the economic system.
- Personalized Loan Offers: The detailed insights allow HappyCash to tailor loan products to fit individual client profiles, offering terms that align with their financial behaviors and capacities.
- Swift Application Process: The integration of FinScore’s technology streamlines the loan application process, enabling quick assessments and faster disbursements, which is crucial for clients needing immediate financial assistance.
- By collaborating with FinScore, HappyCash strengthens its risk management and operational efficiency and empowers a broader segment of the Filipino population with access to essential financial services, fostering a more inclusive economy.
