ADVANCE.AI, a Singapore-based artificial intelligence (AI) and big data company in Asia, is partnering with Visa to strengthen better credit decisioning to help unbanked and underbanked segments get access to credit across Southeast Asia.

The strategic data partnership will see ADVANCE.AI integrate Visa’s innovative Cardholder Transaction Score (CTS) into its core suite of services comprising digital identity verification, risk management and credit decisioning services, ADVANCE.AI said in a statement on Tuesday.

CTS is a creditworthiness score derived from Visa debit or credit card spend volume and categories, spend stability and authorisation declines. This score is not available through traditional credit bureau reports and can be used to complement traditional credit scoring variables, resulting in a more robust risk evaluation model.

The strategic collaboration will enhance the robustness and efficiency of ADVANCE.AI’s solutions, which serves enterprises mainly within the banking, fintech, lending and Web3 industries.

“ADVANCE.AI’s data partnership with Visa will strengthen the efficiency and robustness of our digital identity verification, fraud prevention and risk management services across Southeast Asia,

“Visa’s CTS solution answers the need for a growing number of banks, fintechs, lending and Web3 companies looking to accelerate and simplify digital customer onboarding, risk management and credit decisioning to help unbanked and underbanked segments get access to much needed credit,” said Dong Shou, Chief Executive Officer of ADVANCE.AI.

Adeline Kim, Head of Data Solutions, Asia Pacific, Visa, said, “In Southeast Asia, preference for cashless payments continues to grow, and nearly four in five consumers plan to use cashless payments more often1.”

“Our partnership with ADVANCE.AI will allow us to expand credit access as we leverage their strong presence in Southeast Asia to help credit providers manage risk and reach new customers, which will accelerate financial inclusion across this region,” she said.

Founded in 2016, ADVANCE.AI is a an AI and big data company in Asia, helping to solve digital transformation, fraud prevention and process automation for enterprise clients.

The firm currently partners over 700 enterprise clients across Southeast Asia and India in banking, financial services, fintech, payment, retail and e-commerce.

The firm is part of Advance Intelligence Group, one of the largest independent technology startups based in Singapore.

The group is backed by top tier investors SoftBank Vision Fund 2, Warburg Pincus, Northstar, Vision Plus Capital, Gaorong Capital, Pavilion Capital, GSR Ventures and Singapore-based global investor EDBI.

ADVANCE.AI currently serves 700+ enterprise clients across South and Southeast Asia, Latin America and mainland China across banking, financial services, fintech, payment, retail and e-commerce.

It recently announced the strategic acquisition of Jewel Paymentech, a Singapore-based financial risk technology company specialising in merchant due diligence and fraud and risk management solutions for financial services and payments industry.

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