Galaxia Moneytree and SCI Evaluation Information Jointly Develop Alternative Credit Evaluation Model

[Asia Economy Reporter Hyunseok Yoo] Fintech specialist Galaxia Moneytree announced on the 22nd that it has developed an 'alternative credit evaluation model' utilizing consumption patterns in collaboration with SCI Evaluation Information.

Alternative credit evaluation is a method of assessing credit by using various non-financial information called alternative data. This includes public utility payment history, online and offline purchase and point accumulation information, SNS and email usage details, among others.

Galaxia Moneytree developed the alternative credit evaluation model over approximately six months starting last year. The newly developed model was created based on consumer financial information provided by SCI Evaluation Information and consumption pattern statistics extracted from users on Galaxia Moneytree's simple payment platform, Moneytree.

The alternative credit evaluation model developed by the two companies is expected to be used for various lifestyle financial services within the Moneytree app, including members' credit score inquiries.

Ko Kwangrim, Head of New Business Division at Galaxia Moneytree, stated, “We expect that the advancement of RM (Risk Management) control arising from various payment patterns provided by the company will be possible in the future.”

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