Finllect is an application for thin or no file consumers to build credit and prequalify for credit. Instead of analysing income, credit history, or credit utilisation, Finllect enables next-gen consumers to build credit using micropayments.
Finllect offers an accessible alternative to traditional credit scoring for the next generation of borrowers. Finllect’s credit score engine uses recurring payments to build credit and instantly pre-qualify borrowers for loans without any paperwork.
Banking 300M Gen Zs in the MENA is an 80BN market with 1.4M Gen Zs in the UAE. They have the most significant spending power, influence on family spend and are a priority for banks seeking to acquire next-gen consumers.
Finllect has two main revenue streams: First, a fixed API call fees on a per-user-per-month basis for reporting an applicant’s credit score to a lender. Second, a commission on a per-product-per-user basis for each product a user prequalified for using Finllect’s score.