CredoApp Philippines

CredoLab is a smartphone-based FinTech solution provider that generates an alternative credit score to help participating financial institutions make a credit decision when you apply for financial services with them.


How does CredoLab work?

When you make an application for a credit card or a loan with a participating bank, the bank may ask you to download this app to receive an alternative assessment of your creditworthiness. If you choose to participate, you may download our app and allow us to collect and use information from your phone to generate a credit score. The credit score is provided only to the participating bank whom you have made the application.


How does CredoLab use information on my phone to create a credit score?

Our research shows that, in the absence of reliable credit bureau data, certain data points on the phone are predictive of an applicant's tendency to repay a loan.

The data points we collect do not directly identify you.

We do not ask for access to your social media account to create your credit score.

We ask for this information on behalf of the participating bank because it might tell them something more about you as a borrower. With your permission, we access data points from Media Library, Calendars, Contacts, Photo Library, and Reminders.

The information we retrieve is used only to calculate your credit score and to find the correlation between you as an applicant and the predicted default rate. This information is not used to sell ads nor shared with any third party.

These are some examples of how the data points we collect relate to your credit score:

• Calendar – A higher number of events scheduled during working hours of working days shows higher willingness to repay

• Contacts – A lower number of contacts with more than one phone number tends to indicate lower willingness to repay

• Phone – A higher number (or percentage) of missed calls answered in 1 hour might relate to a medium-to-high willingness to repay

• SMS – A lower number of outgoing SMS might relate to a medium-to-low willingness to repay

• Storage – A higher number of music files tends to indicate a lower willingness to repay

• Other / Access Mail Information – A lower percent of unread mails might relate to a higher tendency to repay a loan

You may choose to provide us with access to one or more of the categories requested. However, the more information that you provide, the more accurate your credit score will be.


CredoLab respects your privacy

We always ask permission from you before accessing the information on your phone. All information requested is relevant to creating a credit score for your loan or credit card application. You may choose not to provide the information requested. However, your credit score may be inaccurate or unavailable for your application as a result.

You will not be required to create an account with us. You will instead be required to enter the code provided to you via SMS by the bank with whom you have made the application. This allows the bank to link your credit score with your application. We do not receive any personal information from your bank in relation to your application.

We process the information and the bank of your choice receives some limited pseudonymised information about you including the results of the credit assessment in relation to the loan you are applying for. While the information remains attributable to you, it cannot be reverse engineered to produce the original raw information collected.

For more information on our data practices, please refer
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Additional Information

March 15, 2019
Current Version
Requires Android
4.1 and up
Content Rating
Offered By
CredoLab Pte. Ltd.
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