Microcapital Brief: Juvo, Mastercard To Promote Selection Credit Scoring Platform To Microfinance Institutions, Banks Inward Latin America, Caribbean

Juvo, a US of America-based financial engineering (fintech) startup that uses transaction info analysis to make credit profiles for individuals inwards emerging markets, lately partnered with Mastercard to provide its Financial Identity every fleck a Service (FiDaaS) platform to fiscal services providers in Latin America likewise the Caribbean Area (LAC). For people without traditional credit histories, the FiDaaS platform uses “alternative transaction data [together with…] machine learning tools” to evaluate their likelihood of repaying loans. Mastercard volition distribute FiDaaS to its partner financial institutions inwards LAC.

“Financial institutions across LAC confront a dilemma: Consumers tin tin can’t demonstrate their creditworthiness to gain access to credit. Without access to credit, however, consumers tin’t institute creditworthiness,” said Juvo CEO Steve Polsky. “Using FiDaaS, financial institutions tin tin chop-chop too dramatically expand the addressable marketplace for their services spell minimizing run a risk.”

Founded inward 2014, Juvo has lxx employees. It has subscribers inward 25 countries, 1 1000000 of whom are active per solar twenty-four hour period every scrap of 2020. Over v rounds of funding, Juvo has raised USD 59.3 meg from 28 investors. Among these, its atomic issue 82 investors are New Enterprise Associates, Samsung NEXT as well as Wing Venture Capital.

Headquartered in the land of New York, Mastercard is a payments in add-on to applied science company connecting consumers, fiscal institutions, merchants together with governments inwards about 210 countries and territories. As of October 2020, Mastercard reported net quarterly income of USD 1.5 billion on full assets of USD 32 billion.

By Kate Finster, Research Associate

Sources besides Additional Resources

Financial information technology article on Juvo inward add-on to Mastercard

https://financialit.cyberspace/discussion/payments/mastercard-juvo-render-fiscal-services-underbanked-consumers-latin-america

Juvo homepage

https://www.juvo.com

Mastercard homepage

https://www.mastercard.us

Mastercard Oct 2020 quarterly written study

https://investor.mastercard.com/financials-together with-minute-filings/quarterly-results/default.aspx

Mastercard 2019 annual study

https://investor.mastercard.com/financials-in addition to-sec-filings/annual-reports-inward addition to-proxy/default.aspx

Previous MicroCapital article on Juvo

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Previous MicroCapital article on Mastercard

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