Guppy Blazes the Trail for Financial Inclusion
The verdict is in! At the 2019 SPARK Awards, Guppy took home the prize for being a Leader in Financial Inclusion Award.
In case you missed the ceremony at SPARK, you can catch up here to learn how Guppy uses new technology to expand credit access to the underbanked.
Empowering financial inclusion
Guppy’s data platform is pushing this business ahead of its competitors as it caters to the needs of consumers, lenders, and businesses.
In today’s world, consumer data is passed around with little transparency, and credit data is no exception. Between data stored by credit bureaus and databases like the NCTUE, consumers are frustrated with their lack of control in the process. That’s where Guppy comes in, to make consumers the owners of their own data profiles – giving them a voice in a crowded space.
Businesses benefit from more holistic data profiles as well. Guppy gives businesses a new way to monetize the data they already have access to, and more importantly, gives lenders a way to extend credit to more applicants, with new alternative data sources.
Built on blockchain technology, Guppy’s unique model expands the opportunity for unbanked and underbanked people and small businesses to gain access to needed credit, all while keeping the end user in control of their own data.
Guppy’s efficient sidekick
To expand its data ecosystem, Guppy partnered with Urjanet to develop high-quality data footprints for consumers and businesses across the globe. “Guppy’s use of Urjanet gives it a clear advantage over others in the market,” said Tommy Marshall, SPARK Awards judge and Interim Director of Fintech Catalyst at ATDC.
“Guppy’s use of Urjanet gives it a clear advantage over others in the market.”
Urjanet provides Guppy with user-permissioned access to utility and telecom payment data, through Urjanet’s utility integrations and simple user interface. The partnership enables more comprehensive credit decisions, as well as background and ID checks with the proof of residence that a utility bill provides.
A close race
A formidable finalist in the race, eCredable also uses new technology to empower financial inclusion for the underbanked. eCredable enables small business owners to build or enhance their business credit scores using phone, internet and utility bills. With Urjanet, both Guppy and eCredable can automate the collection of user-permissioned utility, phone, and internet bill data, generating scalable growth.
You might also like:
- Introducing the SPARK Awards Finalists
- With Alternative Data, Global Financial Inclusion Is More Attainable
- eCredable Redefines Credit Reporting with Utility & Telecom Payment Data
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About Asia Casey
Asia Casey is a Marketing Intern at Urjanet who has a passion for communication and writing. When she's not at Urjanet, she can be found studying public relations at the University of Georgia.