June 13, 2022
Joko and Doni earn Rp 25 million a month. Both spend Rp 15 million per month. Based on this set of information, you may conclude that Joko and Doni's creditworthiness is similar.
But what if we dive deeper into Joko and Doni's spending? Joko has a stable spending pattern and tends to spend on groceries, rent and food. In the last year, he always paid his credit card bills on time and his card has never been declined as he spends within the credit limit. On the other hand, Doni’s spending habits differ from month to month – with the proportion of money spent in different categories varying significantly. In addition, Doni often fails to pay his credit card bills on time and had his card declined multiple times in the last year as he went over his credit limit. Having insight into their spending and payment behaviour can help to better differentiate between the creditworthiness of the two men.
At Brick, we believe that such insights would be useful for lender clients in the financial services sector. We have therefore partnered with Visa to allow our clients to utilise our APIs to retrieve such insights from Visa (which are based on the data from Visa debit and credit card transactions) with the consent of the individual cardholders.
These insights are provided in the form of the Visa Cardholder Transaction Score & Aggregated Spend Attributes. How can lenders leverage these insights?
How does the Visa Cardholder Transaction Score API work?
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