Equality offers a technology ecosystem for financial institutions to expand credit access and accelerate financial inclusion. Their platform integrates KYC verification, alternative credit scoring, and automated loan management to enable underwriting for individuals and businesses without traditional credit histories.
Funding
Funding not disclosed
Founders
Product
Problem
Financial institutions face challenges in extending credit to individuals and businesses lacking traditional credit histories, limiting market reach and financial inclusion. This exclusion results in missed opportunities for both lenders and underserved populations.
Solution
Equality provides a comprehensive technology ecosystem designed to accelerate financial inclusion and expand credit access. Our platform integrates robust KYC verification, alternative credit scoring models, and efficient loan management tools. By leveraging these capabilities, financial institutions can confidently underwrite a broader spectrum of clients, thereby increasing their market penetration and optimizing lending operations. This approach facilitates profitable growth while fostering greater financial accessibility.
Target Audience
Our primary customers are financial institutions, including banks, credit unions, and fintech lenders, seeking to expand their credit portfolios and improve operational efficiency in emerging markets.
Features
- **KYC and Identity Verification:** Utilizes advanced OCR and biometric authentication with access to over 10 global and local blacklists to prevent fraud and identity theft.
- **Alternative Credit Scoring:** Employs proprietary algorithms and diverse data sources to generate predictive credit scores for individuals without traditional credit histories, achieving 100% assessment coverage.
- **Loan Management Platform:** Automates the end-to-end credit lifecycle, from origination to collection, supporting physical, e-commerce, and field operations.
- **Device Financing Security:** Offers a secure blocking and messaging tool for financed mobile devices, laptops, and televisions, designed to reduce delinquency rates by up to 70%.
- **Device Protection (Protexion):** Provides insurance against accidental damage, theft, or loss for financed mobile devices, mitigating default risk due to device incidents.
- **Payment Processing Network:** Facilitates credit repayments through an extensive network of over 30,000 collection points.