Fintech

Technological agility helps fintech leaders to stand out from competition and increase the market share. Strong and reliable partners make this growth even more sustainable and significant. ID Finance in Mexico (MoneyMan brand - moneyman.com.mx) has been cooperating with JuicyScore, risk management and antifraud leader, for the last 3 years.

In comparison with other solutions JuicyScore has a number of benefits, such as stable Device ID and highly informative data vector, which allowed JuicyScore to become a part of the Company's decision making strategy. Moreover JuicyScore let to strengthen risk management technological stack and company's scoring models.

Which variables performed best on being plugged into the model?

Dmitry Mikolauskas, Risk Director at ID Finance Mexico has shared his experience of working with JuicyScore team: “We managed to increase our model separating capacity 1,4 times, adding to the predictive model combinations of variables related to user behaviour on the web-site. For example, cursor distance covered, cursor movement speed, time spent on a web-page, screen idle time, and device quality segmentation.”

Dmitry Mikolauskas also noted “According to A/B test results of the predictive model, which included JuicyScore latest generation technologies, the updated version showed significant effect, which let us to increase new applications approval rate 1,5 times, given that risk management metrics remained at the same level.”

Group of companies ID Finance is currently cooperating with JuicyScore in Mexico and a number of other countries, for JuicyScore had already showed a great performance on the markets of Asia and Europe. JuicyScore distinctive feature is unique devicometry technologies, that help to build probabilistic device fingerprint and device authentication as well as does not store, process or even uses online users direct identifiers. JuicyScore solutions really helps to thoroughly deal with the risks, occuring on a device level or within the frames of an internet session.

Alexander Akhlomov, Chief Product Officer at JuicyScore believes that despite the fact that LatAm bank lending market may be considered to be rather developed, millions of people living in this region still do not have access to traditional financial products. ID Finance offers financial products range designed for financial access improvement of an abundance of the so-called “unbanked” on “underbanked” population - i.e. those people, who do not have access to banking products or have a range of limitations. By means of technological development the company offers tailored solutions for the consumers and has strongly taken place of one of the leading fintechs in the region.

What are the main advantages of such approach?

Natural persons' direct identifiers include identity document information, full name, full phone numbers, full bank cards numbers, photos, email addresses and other data sources, which allow to directly identify an individual or build a direct system of communications with a user. Despite huge investments of companies in IT infrastructure and organizational measures, in some cases direct identifiers, contacts and sensitive data breach may happen, which usually leads to reputational and financial losses for all the parties.

About MoneyMan MX

ID Finance Mexico is an international fintech company offering term loans in various countries around the world. The MoneyMan brand, part of the group of companies, offers its customers a PDL product of up to MXN 15,000 with maturities of up to 90 days. The company deals with the issues related to financial inclusion in Latin America, being one of the key players in the region offering alternative lending products.