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  • How much do you need to know about a person

  • before you'd feel comfortable making a loan?

  • Suppose you wanted to lend 1,000 dollars

  • to the person sitting two rows behind you.

  • What would you need to know about that person

  • before you'd feel comfortable?

  • My mom came to the US from India in her late thirties.

  • She's a doctor in Brooklyn,

  • and she often lets friends and neighbors come to see her for health services,

  • whether they can pay right away or not.

  • I remember running into her patients with her at the grocery store

  • or on the sidewalk,

  • and sometimes they would come and pay her right on the spot

  • for previous appointments.

  • She would thank them,

  • and ask them about their families and their health.

  • She gave them credit because she trusted them.

  • Most of us are like my mom.

  • We would give credit to someone we know

  • or that we live next to.

  • But most of us are probably not going to lend to a stranger

  • unless we know a little something about them.

  • Banks, credit card companies and other financial institutions

  • don't know us on a personal level,

  • but they do have a way of trusting us,

  • and that's through our credit scores.

  • Our credit scores have been created

  • through an aggregation and analysis of our public consumer credit data.

  • And because of them, we have pretty much easy access

  • to all of the goods and services that we need,

  • from getting electricity to buying a home,

  • or taking a risk and starting a business.

  • But ...

  • there are 2.5 billion people around the world

  • that don't have a credit score.

  • That's a third of the world's population.

  • They don't have a score

  • because there are no formal public records on them --

  • no bank accounts,

  • no credit histories

  • and no social security numbers.

  • And because they don't have a score,

  • they don't have access to the credit or financial products

  • that can improve their lives.

  • They are not trusted.

  • So we wanted to find a way to build trust

  • and to open up financial access for these 2.5 billion.

  • So we created a mobile application

  • that builds credit scores for them using mobile data.

  • There are currently over one billion smartphones in emerging markets.

  • And people are using them the same way that we do.

  • They're texting their friends, they're looking up directions,

  • they're browsing the Internet

  • and they're even making financial transactions.

  • Over time, this data is getting captured on our phones,

  • and it provides a really rich picture of a person's life.

  • Our customers give us access to this data

  • and we capture it through our mobile application.

  • It helps us understand the creditworthiness

  • of people like Jenipher, a small-business owner in Nairobi, Kenya.

  • Jenipher is 65 years old, and for decades has been running a food stall

  • in the central business district.

  • She has three sons who she put through vocational school,

  • and she's also the leader of her local chama,

  • or savings group.

  • Jenipher's food stall does well.

  • She makes just enough every day to cover her expenses.

  • But she's not financially secure.

  • Any emergency could force her into debt.

  • And she has no discretionary income

  • to improve her family's way of living,

  • for emergencies,

  • or for investing into growing her business.

  • If Jenipher wants credit, her options are limited.

  • She could get a microloan,

  • but she'd have to form a group that could help vouch for her credibility.

  • And even then, the loan sizes would be way too small

  • to really have an impact on her business,

  • averaging around 150 dollars.

  • Loan sharks are always an option,

  • but with interest rates that are well above 300 percent,

  • they're financially risky.

  • And because Jenipher doesn't have collateral or a credit history,

  • she can't walk into a bank and ask for a business loan.

  • But one day,

  • Jenipher's son convinced her to download our application

  • and apply for a loan.

  • Jenipher answered a few questions on her phone

  • and she gave us access to a few key data points on her device.

  • And here's what we saw.

  • So, bad news first.

  • Jenipher had a low savings balance and no previous loan history.

  • These are factors

  • that would have thrown up a red flag to a traditional bank.

  • But there were other points in her history that showed us

  • a much richer picture of her potential.

  • So for one,

  • we saw that she made regular phone calls to her family in Uganda.

  • Well, it turns out that the data shows

  • a four percent increase in repayment

  • among people who consistently communicate with a few close contacts.

  • We could also see

  • that though she traveled around a lot throughout the day,

  • she actually had pretty regular travel patterns,

  • and she was either at home or at her food stall.

  • And the data shows a six percent increase in repayment

  • among customers who are consistent

  • with where they spend most of their time.

  • We could also see that she communicated a lot

  • with many different people throughout the day

  • and that she had a strong support network.

  • Our data shows

  • that people who communicate with more than 58 different contacts

  • tend to be more likely to be good borrowers.

  • In Jenipher's case,

  • she communicated with 89 different individuals,

  • which showed a nine percent increase in her repayment.

  • These are just some of the thousands of different data points

  • that we look at to understand a person's creditworthiness.

  • And after analyzing all of these different data points,

  • we took the first risk

  • and gave Jenipher a loan.

  • This is data that would not be found on a paper trail

  • or in any formal financial record.

  • But it proves trust.

  • By looking beyond income,

  • we can see that people in emerging markets

  • that may seem risky and unpredictable on the surface

  • are actually willing and have the capacity to repay.

  • Our credit scores have helped us deliver over 200,000 loans in Kenya

  • in just the past year.

  • And our repayment rates are above 90 percent --

  • which, by the way, is in line with traditional bank repayment rates.

  • With something as simple as a credit score,

  • we're giving people the power to build their own futures.

  • Our customers have used their loans for family expenses,

  • emergencies, travel

  • and for investing back into growing their businesses.

  • They're now building better economies and communities

  • where more people can succeed.

  • Over the past two years of using our product,

  • Jenipher has increased her savings by 60 percent.

  • She's also started two additional food stalls

  • and is now making plans for her own restaurant.

  • She's applying for a small-business loan from a commercial bank,

  • because she now has the credit history to prove she deserves it.

  • I saw Jenipher in Nairobi just last week,

  • and she told me how excited she was to get started.

  • She said,

  • "Only my son believed I could do this. I didn't think this was for me."

  • She's lived her whole life

  • believing that there was a part of the world that was closed off to her.

  • Our job now is to open the world to Jenipher

  • and the billions like her that deserve to be trusted.

  • Thank you.

  • (Applause)

How much do you need to know about a person

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A2 初級

TED】信用がない人のためのスマートな新規事業者向けローン|シバニ・シロヤ (【TED】A smart new business loan for people with no credit | Shivani Siroya)

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    victor に公開 2021 年 01 月 14 日
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