ADVANCE.AI and Visa to bolster credit decisioning for unbanked in SEA

By Leandra Monteiro

ADVANCE.AI, a Singapore-based artificial intelligence (AI) and big data company in Asia, is partnering with Visa to strengthen better credit decisioning to help unbanked and underbanked segments get access to credit across Southeast Asia.

The strategic data partnership will see ADVANCE.AI integrate Visa’s Cardholder Transaction Score (CTS) into its core suite of services comprising digital identity verification, risk management and credit decisioning services.

CTS is a creditworthiness score derived from Visa debit or credit card spend volume and categories, spend stability and authorisation declines. This score is not available through traditional credit bureau reports and can be used to complement traditional credit scoring variables, resulting in a more robust risk evaluation model.

The strategic collaboration will enhance the robustness and efficiency of ADVANCE.AI’s solutions, which serves enterprises mainly within the banking, fintech, lending and Web3 industries.

Dong Shou, CEO of ADVANCE.AI , said, “ADVANCE.AI’s data partnership with Visa will strengthen the efficiency and robustness of our digital identity verification, fraud prevention and risk management services across Southeast Asia. Visa’s CTS solution answers the need for a growing number of banks, fintechs, lending and Web3 companies looking to accelerate and simplify digital customer onboarding, risk management and credit decisioning to help unbanked and underbanked segments get access to much-needed credit.”

Adeline Kim, Head of Data Solutions, Asia Pacific, Visa, said, “In Southeast Asia, preference for cashless payments continues to grow, and nearly four in five consumers plan to use cashless payments more often1. Our partnership with ADVANCE.AI will allow us to expand credit access as we leverage their strong presence in Southeast Asia to help credit providers manage risk and reach new customers, which will accelerate financial inclusion across this region.”