Mobile phone tells about the creditworthiness of the client

Experian DataLabs and Gimbal Inc. teamed up to create a service that will allow retailers using mobile communications to instantly assess the creditworthiness of the client and offer him goods in installments. Such a service can be useful for shoe retailers, many of which, today actively practice selling shoes on credit.

Future technology

DataLabs, a division of Experian, a global market leader in information services, and Gimbal Inc., a company specializing in mobile app user engagement technologies and location-based content transfer technologies, have entered into an agreement to jointly conduct groundbreaking experiments in data processing and in-depth analytics.

The results of experiments using a number of geofence adjustment markers within the macro and micro-location from Gimbal will be technologies that will be useful to credit organizations and retailers in which

it will be possible to accurately determine the creditworthy buyer immediately upon entering the store based on the data of his mobile device.

Gimbal technologies will allow Experian client companies to offer instant loans and pre-select borrowers using their mobile phone, if they agree to the use of personal data. Thanks to the use of mobile devices and smart applications on the Gimbal platform, the cycle of interaction between the credit organization and the applicant will be greatly simplified.

“Experian DataLabs is shaping the future, where people will make new daily purchases in stores, buy a car and look for their dream home,” comments Stephen Gildert, Experian Managing Director in Russia and the CIS. ”

For shoe retail

Indeed, such a service can be useful for shoe retailers, many of which, today actively practice selling shoes on credit.

For example, an installment purchase shoe service is offered in the Tervolina shoe store chains and in the retail company Obuv Rossii. Retailers note that such a service is especially popular in regions where the level of well-being of the population is relatively low.

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In Russia, the service "purchase of goods on credit" has its own history. The first in our country this service in 2007 was launched by Obuv Rossii. Initially, the retail company tried to provide the service in cooperation with banks, but after a while at Obuv Rossii they realized that it was more efficient to lend to customers on their own.

As a result, the company “from scratch” built an analogue of the banking system. Escort of customers purchasing shoes with installment payment is automated on the basis of the 1С 8 program.

Today, a team of more than 100 professional managers with experience in banks is involved in managing this project at Obuv Russia. A retail lending group, an analytical support group, and a financial security group have been created in the structure of the financial service.

To execute and maintain installment and microloan agreements in the company’s stores online allows you to use your own IT system, and to evaluate the creditworthiness of the client - your own scoring program, which is constantly being improved and updated.

A preliminary assessment of customer creditworthiness is one of the most important procedures in the process of consumer lending. Possible losses of the retailer in the event of servicing unscrupulous borrowers depend on this.

So, according to the National Bureau of Credit Histories (NBCH), in December 2015, the average delay in this segment of financial services amounted to 16% with an average amount of 200 thousand rubles. At the same time, according to Shoe of Russia, the level of delinquencies and defaults among buyers of company stores today does not exceed 3%.

The installment payment project, according to representatives of the Obuv Rossii company, continues to develop actively. For the 5 months of the 2016 year, the company issued more than 216 thousand installment agreements worth more than 1,62 billion rubles. The growth relative to the same period last year amounted to 6% in the number of executed contracts and 12% in the amount of contracts.

The installment share in retail revenue is also increasing: in 2016, it amounted to 58%, which is 2,6% higher than last year.

Following the 2015 year, installment sales amounted to 4,4 billion rubles.   

“With the help of installment plan, the client makes a complex purchase, in connection with which, the average amount of the installment contract relative to the previous year increased by 6% and amounted to 7,5 thousand rubles. The "Installment" service allows you to attract new customers and increase the loyalty of regular customers. The share of repeated calls in the 2016 year was already 74%, in the 2015 year - 67%, ”the company commented.