ADVANCE.AI partners with FinScore to boost alternative credit scoring and fraud prevention in the Philippines, SEA

MANILA,Philippines,March 17,2022 -- ADVANCE.AI,a leading AI company specialising in digital identity verification,risk management and process automation,has signed a strategic data partnership with FinScoreto help boost financial inclusion and access to the unbanked and underbanked customers in the Philippines and wider Southeast Asia (SEA). The partnership will strengthen the robustness of ADVANCE.AI's credit profiling and risk management capabilities through FinScore's digital solutions,namely Telco Data Credit Scoring and Fraud Prevention Solutions.

FinScore is a financial technology company in the Philippines that offers a powerful credit scoring platform and fraud detection tool based on alternative data,including telco-based data. It is the first company to determine the creditworthiness of 100% of the mobile subscribers in the country,the highest market reach in the Philippine alternative credit scoring market. The company's mission is to fill the financial gap by providing inclusive credit scoring and improving access to financial services for consumers in the country.

FinScore has been awarded by the Monetary Authority of Singapore (MAS) and the Singapore FinTech Association (SFA) as the 2nd prize winner – Global Category for its 'Alternative Credit Evaluation (A.C.E) Portal' solution in the SFF Global FinTech Awards 2021,the highest accolade for FinTech innovation. FinScore is the only Philippines-based company to be awarded in the Global Category.

A leader in artificial intelligence,risk management and digital lending solutions,ADVANCE.AI partners over 1,000+ enterprise clients across banking,financial services,payment,remittance and web3.0. Key clients include CIBI Philippines,Standard Chartered and Shopee. ADVANCE.AI's One-Stop Platform powers real-time operational response and fraud detection with 100+ data points covering credit bureau,telco,social networks,utility,IP and geolocation. The end result is accurate risk decisions,quickly and easily,on one single platform.

Christo Georgiev,FinScore Country Manager and Chief Operations Officer said: "We are pleased to work with ADVANCE.AI in unlocking the financial empowerment of the unbanked customers in Southeast Asia. We are very much happy in extending our alternative data credit scoring expertise with ADVANCE.AI,so that they can uplift their client's acceptance rates while managing risk,especially financial institutions focused on buy now,pay later (BNPL) and digital lending services. We look forward to a progressive cooperation in increasing our respective presence in the Southeast Asian market."

Michael Calma,ADVANCE.AI's Philippines Country Manager said: "We're excited to have FinScore as one of our data partners in the Philippines,to accelerate a digitally empowered and financially inclusive Philippines,as well as broader Southeast Asia. This is even more important post-Covid,when the banking and financial services industry needs to digitally onboard and manage the risk profile of their customers quickly,easily and accurately. The end result is better resource efficiency,faster time to market and lower costs."

A joint media kit is available here.

About FinScore

FinScoreis a financial technology company in the Philippines that offers a powerful credit scoring platform and fraud detection tool based on alternative data,including telco-based data. As the pioneer in lending and scoring of the unbanked in the Philippines,the company continuously empowers banks,financial institutions,and credit bureaus with flexible platforms to help them make insightful and reliable credit decisions.

To know more about our FinScore credit scoring services,visithttps://www.finscore.ph/ or follow us onLinkedIn.

About ADVANCE.AI

ADVANCE.AIis a leading AI company that provides digital transformation,fraud prevention,and process automation solutions for enterprise clients. A leader in Artificial Intelligence,it currently partners over 1000+ enterprise clients across banking,fintech,retail and e-commerce sectors. ADVANCE.AI is part of Advance Intelligence Group,one of the largest independent technology startups based in Singapore. Founded in 2016,the Group has presence across South and Southeast Asia,Latin America and Greater China. The Group is backed by top tier investors SoftBank Vision Fund 2,Warburg Pincus,Northstar,Vision Plus Capital,Gaorong Capital,Pavilion Capital,GSR Ventures and Singapore-based global investor EDBI.