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CreditPlus backed UBCH and Visa for the first time in Ukraine launched a new model for evaluating the credit risk of its customers

17/ 08/ 2021
  One of the leaders in the microloan industry, CreditPlus (Aventus Ukraine LLC), became the first client of the Ukrainian Bureau of Credit Histories (UBCH) in a pilot project that was introduced by Visa together with UBCH in Ukraine, which will allow a financial institution to apply a new model of credit scoring for their clients. CreditPlus will be able to receive from UBCH an assessment of the scoring score of the Visa cardholder, which is provided to UBCH within the Visa Transaction Underwriting Score service. This service can be available to financial institutions only with the consent of the client, who is the cardholder. Thus, the companys clients using Visa bank cards can count on higher accuracy of models when making a financial institutions decision to issue a loan. This will improve the quality of service and customer experience, increase the likelihood of getting the right amount and reduce the failure rate, allow offering customers more personalized offers and reduce the time to make a decision. CreditPlus always aims to find and produce new solutions to improve its service. The launch of this pilot project to use Visas Transaction Underwriting Score (TUS) product to predict a persons creditworthiness from a payment card will further investigate and meet customer needs. “As a fintech company, we pay a lot of attention to finding and analyzing new opportunities, and we were delighted to take part in this project and implement a credit scoring system in our new models. We were pleasantly surprised by the manufacturability and openness of all participants in the process, which allowed us to go through the stage of technical implementation in a fairly short time. We are grateful to UBCH and Visa for promptly providing full information and technical support, and we look forward to our successful further cooperation,” commented Volodymyr Dovgal, CEO of CreditPlus. “This cooperation will have a positive effect on the process of analyzing borrowers and contribute to the growth of quality loans. Accordingly, this will significantly affect the approval statistics — with the help of the new scoring model and the Visa solution, the company will be able to expand the data we work with and conduct a more accurate assessment for decision-making. And this will contribute to greater access to lending by consumers,” said Bohdan Pshenichny, CEO of UBCH. Additional information CreditPlus (Aventus Ukraine LLC) is a member of the international group of companies Aventus Group (Lithuania). It has been operating in the Ukrainian market since 2017 and provides high-quality services for fast online lending. The company conducts a responsible business, taking into account the European practice in working with clients and providing them with financial services. Since entering the market, the company annually participates in the ratings of microfinance organizations, in particular, in 2020 it took third place in the rating of the independent resource finance.ua. Ukrainian Bureau of Credit Histories (UBCH) — high-tech bureau with the largest base of credit histories in Ukraine. The bureaus activities are designed to build mutual trust and respect between the borrower and the lender. The companys innovative solutions help improve the decision-making process, reduce financial risks and increase the level of security for all participants in the financial market.

One of the leaders in the microloan industry, CreditPlus (Aventus Ukraine LLC), became the first client of the Ukrainian Bureau of Credit Histories (UBCH) in a pilot project that was introduced by Visa together with UBCH in Ukraine, which will allow a financial institution to apply a new model of credit scoring for their clients. CreditPlus will be able to receive from UBCH an assessment of the scoring score of the Visa cardholder, which is provided to UBCH within the Visa Transaction Underwriting Score service. This service can be available to financial institutions only with the consent of the client, who is the cardholder.

Thus, the company’s clients using Visa bank cards can count on higher accuracy of models when making a financial institution’s decision to issue a loan. This will improve the quality of service and customer experience, increase the likelihood of getting the right amount and reduce the failure rate, allow offering customers more personalized offers and reduce the time to make a decision.

CreditPlus always aims to find and produce new solutions to improve its service. The launch of this pilot project to use Visa’s Transaction Underwriting Score (TUS) product to predict a person’s creditworthiness from a payment card will further investigate and meet customer needs.

“As a fintech company, we pay a lot of attention to finding and analyzing new opportunities, and we were delighted to take part in this project and implement a credit scoring system in our new models. We were pleasantly surprised by the manufacturability and openness of all participants in the process, which allowed us to go through the stage of technical implementation in a fairly short time. We are grateful to UBCH and Visa for promptly providing full information and technical support, and we look forward to our successful further cooperation,” commented Volodymyr Dovgal, CEO of CreditPlus.

“This cooperation will have a positive effect on the process of analyzing borrowers and contribute to the growth of quality loans. Accordingly, this will significantly affect the approval statistics — with the help of the new scoring model and the Visa solution, the company will be able to expand the data we work with and conduct a more accurate assessment for decision-making. And this will contribute to greater access to lending by consumers,” said Bohdan Pshenichny, CEO of UBCH.

Additional information

CreditPlus (Aventus Ukraine LLC) is a member of the international group of companies Aventus Group (Lithuania). It has been operating in the Ukrainian market since 2017 and provides high-quality services for fast online lending. The company conducts a responsible business, taking into account the European practice in working with clients and providing them with financial services. Since entering the market, the company annually participates in the ratings of microfinance organizations, in particular, in 2020 it took third place in the rating of the independent resource finance.ua.

Ukrainian Bureau of Credit Histories (UBCH) — high-tech bureau with the largest base of credit histories in Ukraine. The bureau’s activities are designed to build mutual trust and respect between the borrower and the lender. The company’s innovative solutions help improve the decision-making process, reduce financial risks and increase the level of security for all participants in the financial market.

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