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Lenddo and FKBCG Create Joint Venture in Korea

NEW YORK, United States, Sept. 1, 2016 (GLOBE NEWSWIRE) — via PRWEB – Lenddo, the world’s first and leading expert in credit decisioning using non-traditional data and FK BCG, Korea’s leader in credit scoring consulting today announced the establishment of a new company, Lenddo Korea.

Lenddo Korea will allow financial institutions to make better decisions and strengthen their competitiveness with real-time credit scoring and identity verification solutions using non-traditional local data sources.

“We are excited to launch Lenddo Korea and introduce innovative ways for Korean financial institutions to manage risk.” said Lenddo CEO Richard Eldridge.” By using our platform, proprietary algorithms and local data we can improve access to vital financial services for millions of consumers and MSME’s in Korea”.

The joint venture will use Lenddo’s patented technology and global best practices in partnership with FK BCG’s local expertise of over 15 years in credit risk analysis and consultancy to roll out a range of products and services in the coming months.

“By combining Lenddo with our in depth knowledge of the Korean market we have developed predictive scores and are able to provide better services more applicable to the local market .” said Lenddo Korea Representative Director Kim Min Jung

Name: Hoseok Shon
Mail : info(at)lenddo(dot)co(dot)kr
Phone : 82-2-6925-5115

About Lenddo
Founded in 2011, Lenddo has developed its patented technology based on 4 years of actual online lending experience and helps financial service providers extend credit to consumers and SMEs in this segment by analyzing these digital footprints to verify their identities and assess risk. Leading financial institutions use Lenddo’s expert models to provide access for millions of consumers and MSME’s around the world, approving applicants in seconds while providing an enhanced customer experience.

FK is the company who imported FICO’s traditional credit scoring technology to Korea in late 90s, and has been supporting financial companies and credit bureaus to enhance predictive models for better decision through data.

Original article appeared on PRWeb