Datawallet is excited to announce a strategic partnership with FintruX, a blockchain based online ecosystem connecting borrowers, lenders, and rated service agencies. FintruX’s network makes it easy for individuals and small businesses to rapidly secure affordable loans, with no collateral and in any currency and is perfectly aligned with our vision of empowering users to leverage their data for personalized financial services.

This partnership will allow borrowers to use key data points from their Datawallet to provide lenders with novel data, enabling cutting edge psychographic credit scoring, which results in more accurately priced rates than those currently available in the market.

Psychographic analysis model based on social media, online commerce, and offline commerce data attributes

With the current credit landscape, reliable borrowers are being penalized by traditional insurers inability to leverage high quality data, which forces them to rely on coarse categories to score credit. Trustworthy borrowers who come from statistically risky categories are paying a premium. Furthermore, individuals with no previous credit history do not have access to credit, resulting in 3 billion globally being ‘credit invisibles’. The partnership between Datawallet and FintruX provides a solution to this problem. Fintrux users can link their Datawallet profile and leverage years worth of historic and real time cross-platform data to complement the incomplete risk-profile used in traditional risk-assessment models. This richer profile will be the kernel for more intelligent risk-scoring algorithms that provide fairer rates based upon risky or safe tendencies invisible to algorithms built upon the data currently considered. Additionally, borrower’s need not fill out form after form to receive a loan quote — they can share the relevant data points from their Datawallet with the click of a button. We believe that this partnership has the potential to unlock the true power of psychographic loan underwriting.

Psychographic Credit Scoring through neural networks leveraging traditional and psychographic data inputs

Datawallet is passionate about our mission to make people’s data work for them. Our partnership with FintruX is an important step towards delivering upon this mission; together we will empower users to use their data to secure quicker, fairer, and more affordable loans — reigning in a new era of credit.

We encourage you to join Fintrux’s fantastic community at https://t.me/FintruX

To learn more about FintruX, visit their website here: https://www.fintrux.com