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Credible aims to help micro-entrepreneurs in India build financial track records without formal credit histories. By using this simple application on their mobile, users will be able to log their daily transactions through secure open-source digital payment systems. This data will then be used to generate an alternative credit score giving micro-entrepreneurs a way to prove their creditworthiness and access formal financial services. The project extends to launching a survey to understand how micro-lenders assess creditworthiness and use the data to refine the credit-scoring model. A detailed mobile application plan is also developed to demonstrate the functionality and work design of the tool.
Our Application:
Our Application:
Our groundbreaking financial application is designed to transform economic opportunities for micro-entrepreneurs by creating a comprehensive, data-driven financial credibility ecosystem. The application is a response to critical gaps in the traditional credit market by leveraging Large Language Model technologies and financial management.
At its core, the application offers holistic solutions for capturing integrated transaction histories across multiple open-source digital payment platforms, offering manual and automated verifications. By using LLM algorithms we generate transparent, dynamic credit scores that reflect real-time business performance.
Our key innovations include an ecosystem connectivity feature that matches micro-entrepreneurs with potential lenders, updates on eligible government schemes based on their credit score, and personalized financial opportunities for borrowing to boost credit scores. The application’s gamified approach incentivizes responsible financial behavior through tailored cashback programs and credit score improvement mechanisms. The application is engineered to be accessible, inclusive, and transformative for the upcoming business owners. The application is currently in its beta stage with 500 pilot users. You can find the designs for the app below:
The Credible Homepage
The Credible Homepage
The Credible Transaction Logging Page
The Credible Transaction Logging Page
The Credible Ecosystem Page for Lending & Borrowing
The Credible Ecosystem Page for Lending & Borrowing
The Credible Survey for Microlenders
The Credible Survey for Microlenders
The Credible Survey for Microlenders was designed to identify how informal money lenders assess the creditworthiness of their customers. This includes considerations such as their target audience, social factors, required documents, and lenders’ affiliations to larger bodies. Collecting this data allows us to understand how to make users more qualified for credit, and thereby refine the credit-scoring model.
Aarin - Credible Survey for Microlenders-2.pdfPage updated
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