Fintech scaleup credolab joins forces with automated decisioning platform Taktile making it easier for financial organizations to leverage alternative data for launching new products, reducing risk, and making more accurate decisions.
As the first smartphone and web behavioral data provider in Taktile's newly launched Data Marketplace, credolab will provide access to bank-grade digital scorecards and data enrichment solutions, including anti-fraud insights, account takeover, and marketing segmentation. Other partners in the Data Marketplace include Codat, CRS, NovaCredit, Boniversum, Creditreform.
Credolab's platform uses proprietary Machine-Learning algorithms that detect more than 10 million behavioral patterns, such as battery usage, the most frequently downloaded app category, the total time spent applying, speed of the scrolling or the number of times "copy" and "paste" was used on questions the user should know the answer to. It enables banks and neobanks, digital lenders, BNPL players, and any industry at the intersection with financial services to make better risk, fraud and marketing decisions without processing any personal data.
“We are excited to partner with Taktile to enable more digital lenders to add a new layer of behavioral assessment that allows them to approve more good customers and reduce their cost of risk and fraud. Collecting only privacy-consented and anonymous metadata with no personal data leaving the customer's device, our technology complies with all major data privacy laws worldwide,” said Peter Barcak, CEO of credolab.
The Taktile Data Marketplace is a one-stop ecosystem of leading data providers that enable customers to easily access a wide range of traditional credit, identity, fraud, open banking, accounting, and alternative data. Powering hundreds of thousands of decisions per day, Taktile’s platform enables users to experiment with off-the-shelf data integrations and monitor the performance of predictive models in their decision flows.
“Taktile’s no-code interface allows nontechnical employees, such as heads of credit or risk officers, to build, adjust and evaluate their own decision flows. With credolab solutions in our Marketplace, we enable more fintechs to make decisions in a data-driven way and ensure they only underwrite the risks that match their strategy,” said Dr. Niklas Guske, COO at Taktile.