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Phnom Penh – Dr. Sonja Kelly, World Vice President for Analysis and Advocacy at Girls’s World Banking, performed a workshop on “Leveraging the Energy of Knowledge for Efficient Credit score Danger Evaluation” for monetary companies suppliers in Cambodia, on the Hyatt Regency in Phnom Penh, on 11 August 2023. This workshop sought to construct the capability of taking part monetary companies suppliers to extend the accuracy of credit score danger assessments for thin-file and under-represented prospects, reminiscent of low-income girls, leveraging new and different knowledge. The workshop additionally highlighted easy methods to keep away from biases to extend inclusivity and attain new markets.
Based on the World Financial institution, two-thirds of Cambodian men and women haven’t borrowed from a monetary establishment previously 12 months. With no formal credit score historical past or collateral, accessing funds for potential debtors may be troublesome. New knowledge gives options for monetary establishments to foretell the credit score worthiness of those “skinny file” prospects.
“Knowledge is the brand new gold. This actuality underscores the potential for lenders to create new alternatives in Cambodia. When well-used, knowledge can get extra credit score to extra girls extra effectively. The quantity of knowledge that exists on mortgage candidates is greater than it has ever been, and it’s rising. Harnessing the facility of this knowledge for each enterprise and buyer goals means using artistic new knowledge analytics strategies and making certain the accuracy of those fashions for under-represented teams,” mentioned Dr. Kelly.
Dr. Kelly additional said that the following frontier of lending can be data-driven. Harnessing this knowledge for correct, efficient, and honest credit score scoring means constructing robust knowledge science foundations. “As the quantity of knowledge 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 knowledge evaluation to assist monetary companies suppliers establish new enterprise alternatives. Not less than 30 executives from distinguished business 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, Examine Your Bias! A Discipline Information for Lenders and the Gender Bias Scorecard for Lenders.
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