Banks use mobile phone history to determine credit rating

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We've seen a couple of efforts to introduce quick and easy banking services in developing nations. Now addressing the topic of credit-worthiness, Cignifi aims to help banks meet the needs of the 2.7 billion such people worldwide by offering credit and marketing scores for consumers using just mobile phone behavior data. Developed with the help of behavioral mathematicians to assess credit risk using as little as four weeks calling history, Cignifi's new platform offers what it claims is the first to deliver credit and marketing scores for consumers without credit histories using mobile phone behavior data. Specifically, the Massachusetts-based company's…

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