Telecom Alternative Evaluation Partners with Vietnamese and Indonesian Firms to Expand Asian Network

International Standardization of Alternative Credit Assessment
for Migrant Worker Credit Linkage

Telecom Alternative Evaluation, a joint venture alternative credit assessment company established by the three major mobile carriers in Korea, is building a credit information utilization model for Indonesian migrant workers.

Moon Jaenam, CEO of Telecom Alternative Evaluation (right), is taking a commemorative photo with Tan Glant Saputrahadi, CEO of Indonesian credit rating agency PBK, after signing an agreement for 'Cross-border Financial Linkage and Joint Development of TelcoScore.' Telecom Alternative Evaluation

Telecom Alternative Evaluation announced on the 27th that it had signed an agreement with Indonesian credit rating agency PBK on the 22nd (local time) for cross-border financial linkage and joint development of TelcoScore.

The two companies have agreed to establish a bidirectional credit linkage system that enables migrant workers to utilize telecom-based credit information formed in their home country in other countries as well.

They will cooperate in linking customized financial products for migrant workers, developing hybrid credit assessment models, and standardizing real-life-based data such as telecom usage history and payment patterns.

Indonesian workers who have migrated to Korea will be able to access Korean financial services based on telecom data from their home country. Conversely, data accumulated in Korea can be used as a credit indicator after returning home.

Previously, on the 7th, Telecom Alternative Evaluation signed a business agreement with Datanest, a subsidiary of Vietnamese financial platform group Amigo, to establish a telecom information linkage system.

With this latest agreement, the company plans to build the 'TelcoCredit Network' across Asia, including the Philippines and Cambodia, after conducting pilot projects in Vietnam and Indonesia.

Telecom Alternative Evaluation is a specialized alternative credit assessment institution that evaluates credit using telecom data from the three major mobile carriers and provides services such as loans for thin-file customers who lack sufficient financial history.

Moon Jaenam, CEO of Telecom Alternative Evaluation, stated, "The reality is that Asian migrant workers face financial exclusion due to insufficient financial history, but we can address this through a data-based alternative credit assessment system. We aim to become a global platform that spreads a fair and sustainable inclusive finance model through telecom data."

This content was produced with the assistance of AI translation services.