Founded in early 2023 by Carey Anderson and Lawrence Smith, 1datapipe, an Artificial Intelligence (AI)-based consumer insights platform, is optimistic about the future. The company has Indonesia as one of its main markets and, through its detailed customer journey analysis solution, aims to promote financial inclusion in the country, since data from the Financial Services Authority (OJK) of Indonesia, around 65% of adults in Indonesia do not have access to formal financial services. This exclusion is particularly pronounced in rural areas, where banking infrastructure is less developed, and among women, who are disproportionately represented among the unbanked. With solutions designed for banks, financial services, fintechs, retail and e-commerce, the company has offices in New Jersey, London, São Paulo and Jakarta, with plans to expand throughout Latin America and Southeast Asia in the next 12-18 months.
With its B2B2C solution, 1datapipe offers a comprehensive overview of the entire customer journey, focusing on companies that offer credit to their consumers. Thus, players have access, in a single API, to five strategic risk scores, including fraud prevention, income estimation, credit assessment, lifestyle and financial inclusion solutions that highlight reliable payment behaviors and a high propensity to consume more products. These analyses identify highly qualified customers who were previously excluded from financial services.
“1datapipe is not just another analytics and insights partner. We differentiate ourselves by combining AI with data analytics. Our team has deep expertise in compliance and information protection in every country we operate in. In Brazil, we are familiar with local privacy regulations and work with regulators to ensure adherence to industry laws and standards,” explains Carey Anderson, CEO of 1datapipe.
With a focus on developing countries, where financial inclusion remains a challenge, 1datapipe aims to increase its presence in the financial services sector by 2024, targeting the 10 largest banks in less than a year.
“We also seek to reach other segments, such as fintechs, retail companies with credit offerings and e-commerce businesses through partnerships or direct sales,” says Anderson.
The suite of solutions begins with the Fraud Security and Identity Score. Using advanced AI and data analysis, the solution identifies individuals prone to fraudulent activity.
“We assess the digital footprint of that person, including online behavior, the IP of their machine, and whether their phone and email address are trustworthy. With this, we help combat modern and sophisticated fraud threats at every checkpoint, always using cutting-edge technology,” explains Carey.
Leveraging advanced income estimation models, the Income Stability Score reliably assesses and verifies 96.7% of formal and informal collections to strengthen credit decisioning strategies.
“We create a narrative of an individual’s financial history, providing insights into patterns, trends, and anomalies across data such as household income, employment history, rent and utilities, and alternative financial-related attributes. This score enables companies to make robust credit assessments of an individual’s income stability,” notes Carey.
The Credit Confidence Score incorporates a range of alternative data to effectively include all demographic groups, especially those who are not used to taking out loans. In this way, it allows lenders to identify people who are outside the market but who could become good customers.
“By integrating different sources of information, we help institutions transform credit risk assessment and expand access to a larger number of consumers, with coverage for more than 99% of the population.”
Using geographic and behavioral information from mobile devices, the Geographic Lifestyle Score provides an idea of the consumer profile at different stages of their lives, such as travel, restaurants, retail, fashion, etc. Thus, the solution reveals patterns that influence their choices, showing both online and offline attitudes that ultimately help companies make decisions.
“By meticulously assessing hundreds of personalized attributes and behavioral analyses across multiple risk levels, we set a new standard in inclusive finance. Using advanced algorithms, our technology accurately identifies underbanked individuals, enabling financial institutions to extend services to those previously excluded, thereby driving financial inclusion and growth,” said Carey.
This AI-powered suite of solutions integrates seamlessly and delivers highly complex yet simplified analytics in under 2 seconds. It enables financial institutions to prevent fraud, identify financially stable customers, assess credit, identify potential customers, and improve decision-making strategies. All while meeting the highest security standards and providing the highest level of trust to their users.
