Qarar partners with CredoLab

 Qarar partners with CredoLab to bring Alternative Credit Risk Score Solutions to the Middle East

Mobile and web digital footprints to detect fraud and credit risk using big data, machine learning algorithms, artificial intelligence and sophisticated algorithms

Dubai, UAE, April 2021: Qarar, a leading regional credit risk and decision analytics company, announces a new partnership with CredoLab, the most seamless, transparent, and accurate alternative-data credit risk scoring provider in the market today.

Lenders often face a shortage of relevant data to score and assess a big pool of the population. Consequently, lenders are often unable to make decisions on the so-called ‘thin files’ due to a lack of data. Thin file customers then remain excluded from formal finance.

Qarar’s partnership with CredoLab will focus on applying its Embedded Scoring solution to assess credit risk and detect early fraud, relying on alternative Mobile and Web data.  The partnership combines Qarar’s credit risk expertise and market knowledge with CredoLab’s modern approach to risk assessment that provides highly predictive insights to businesses while preserving the privacy and focusing on seamless customer experiences.

Peter Barcak, Founder and CEO of CredoLab said: “We are delighted to welcome Qarar to our growing partner network.  Qarar’s expertise in credit risk management and decision automation tools together with their well-established presence and client base in the Middle East and North Africa will add great value to expansion plans in the region.”

Zaid Kamhawi, CEO of Qarar, commented: “CredoLab has developed an impressive alternative data scoring solution that we believe has particularly strong potential in countries where there is a high transient population and an underbanked population.  Alternative data for credit scoring has proven to help organisations be more inclusive in their lending decisions and accurate in their credit decisions when used alongside traditional scoring models.  Through our partnership with CredoLab, we aim to help our clients expand their acquisition strategies with confidence. “

Qarar is the region’s leading decision analytics company. Headquartered in Dubai and serving customers across the Middle East and North Africa, Qarar helps companies in the banking and finance sector to solve business challenges with a mix of predictive analytics, advisory, and decision technologies.

About Qarar

Qarar is the region’s leading Decision Analytics company specialised in offering consulting, decision analytics and software technology to deliver tailor-made customer management and process automation solutions. Headquartered in   Dubai and serving customers across the Middle East and North Africa, Qarar helps its clients to solve business challenges and achieve sustainable business outcomes. We achieve this across the customer lifecycle by employing the right mix of predictive analytics, and market experience based advisory and decision technologies. Our expertise spans Strategy, Pricing, Credit Risk Management, Marketing and Sales Analytics.

About CredoLab

We believe loans improve lives. We also believe traditional banking processes leave a lot of people out of the process. That’s why CredoLab is changing the way the world looks at credit. Our pioneering technology calculates credit scores based on people’s mobile and web behavioural data— so lenders can make decisions off the way people live and work in the modern world.   Making loans more accessible to more people benefits everyone.