at her home in
FO A O, I
While working for the UN Population Fund, Shivani Siroya wanted
to understand the of development programs such as
microcredit. When talking to business owners in Africa and Asia, she
found that they had difficulty accessing affordable capital,
partly because of the lack of a credit score. In late 2012,
has a background in econometrics and
InVenture, which provides loans and other services to
people in developing countries by using a unique approach: pulling
from digital history to build credit scores. Since its founding,
InVenture has made more than 250,000 loans to more than 65,000
people in Africa and Southeast Asia.
sky: How does InVenture work?
siroya: developed an
Android app that allows us, within a
short period, to be able to understand identity and verify
that identity. From the [mobile]
device, we pull in about 10,000 different data points on the individual
in about 20 seconds. We score them
and then we disburse loans directly
to them, anywhere from $10 all the
way up to $1,000, right into their
digital wallets. The entire process
takes us under one minute.
How can you generate a credit score using a mobile identity and data?
We do that by using all of the
PHOTOGRAPH BY GREGG SEGAL