Singapore-based fintech company, Credolab, has announced its strategic partnership with Circulo de Credito,
a leading credit bureau in Mexico. This collaboration aims to enhance credit risk assessment capabilities and provide
more comprehensive and accurate credit information to financial institutions in the Mexican market.
Credolab offers AI-powered alternative credit scoring solutions that leverage alternative data sources, such as
mobile device metadata, to assess creditworthiness. By partnering with Circulo de Credito, which has a vast database
of credit information on Mexican consumers, Credolab can now extract additional insights to strengthen its credit
risk models specifically tailored for the Mexican market.
“We are excited about this partnership with Circulo de Credito. By combining Credolab’s cutting-edge technology and
Circulo de Credito’s extensive credit database, we aim to help financial institutions make more accurate credit decisions
and expand affordable access to credit for Mexican consumers,” said Peter Barcak, CEO of Credolab.
The partnership aligns with Credolab’s mission to facilitate financial inclusion globally by enabling lenders to assess
creditworthiness beyond traditional credit data. With its presence in multiple markets in Asia, Europe, and the Americas,
Credolab intends to empower financial institutions worldwide to leverage real-time digital insights in their credit
assessment processes.
Circulo de Credito, recognized for its credit bureau expertise, has been serving the Mexican market for more than 25 years.
By collaborating with Credolab, Circulo de Credito aims to leverage innovative technologies to enhance its credit scoring
capabilities and deliver richer credit reports to better serve the needs of lenders and consumers in Mexico.
The partnership between Credolab and Circulo de Credito represents a significant step towards fostering financial inclusion
by providing lenders with more robust credit assessment tools and empowering consumers with better access to credit services
in Mexico.