[Interview] Our data marketplace is helping fill credit history gap in Sub-Saharan Africa, CARMA CEO
CARMA Interview: Fintech has become a significant force in shaping the financial services industry in Sub-Saharan Africa. As this market grows, the need for data also arises – data has become an integral part of the value chain.
In this interview, we talk to Ted Martynov, the CEO of CARMA, the world’s first data marketplace that provides lending organizations with credit assessments (including the underserved and unbanked) while they also allow other industries to contribute to sharing their data on their marketplace. This data includes KYC, contacts, purchasing, subscription, and credit information of individuals.
CARMA aims to fill the gap in the credit reference and lending space where credit history and other traditional data sources are limited. Fintech’s in Africa have targeted early adopters and individuals who are already making use of banking and financial services however the opportunity knocks for those who can find ways to deliver new and better services to the underserved and unbanked. The ability to pool and mine unconventional data to create new scoring and evaluation algorithms will be central to unlocking the next wave of innovation and facilitating risk management which is mostly seen in the developed markets.
CARMA offers proprietary decentralized technology allowing lenders to get more value by accessing data on a real-time basis. While non-lending organizations can also monetize their data which will increase their number of lenders.
Read full interview on TechTrendsKE here.
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