The new product uses data and geocoding from Esri to extend financial services to previously underserved markets.
REDLANDS, Calif., March 22, 2022–(BUSINESS WIRE)–MO Technologies, a company that provides fintech companies with a more comprehensive view of an individual’s creditworthiness based on location information, has selected Esri’s ArcGIS platform for provide the accurate and frequently updated data that is at the core of MO tools and complement traditional credit scoring models.
Since a person’s financial situation doesn’t always fit the scheme used by credit bureaus and banks, MO leaders believe knowing more about where a person lives and works can help fill in the gaps to close and allow loans. some of the hundreds of millions of people excluded from the financial system.
“The situation can change drastically, as we have seen in the last two years,” said Javier Díaz-Cely, director of analysis at MO. Putting the data in a geographical context provides valuable information and important understanding.”
At the heart of MO’s software-as-a-solution (SaaS) offerings, including its newest product, MO Geo, is trusted information from Esri, the world’s leading provider of location information. Using the ArcGIS Platform, Esri’s platform as a service (PaaS), MO gained access to Esri’s extensive demographic data and accurate geocoding services.
“We’re pleased that MO chose the ArcGIS Platform when they needed reliable data and geocoding services,” said David Cardella, product manager for development technologies at Esri. “By offering flexible solutions, our customers can focus on what they do best.”
MO uses data on real estate prices, the cost of food, access to transportation and amenities, and more, to create models that can help estimate a person’s income or financial risks. The MO team found that in Argentina, for example, the distance between the home and an ATM is a significant factor. In Mexico, it is important to consider property prices and the number of supermarkets near an applicant.
MO Geo, the company’s recently launched stand-alone product, provides fintechs and other financial institutions with geo-indices developed using machine learning, which can be used as complementary data to conventional models. The product also works with MO Score, the company’s proprietary credit scoring platform.
In addition to financial institutions, the company also worked with informal economy businesses and consumer goods manufacturers seeking to provide credit to small business owners with little financial history.
Based in Bogotá, Colombia, MO has so far focused on Latin America and the Caribbean. The company’s technology has already been used in one million credit checks. A free version of the “MO Geo” solution is available in the US The company is expanding product availability to Mexico, Colombia, and the rest of Latin America and the Caribbean.
To learn more about Esri’s ArcGIS platform, visit go.esri.com/Platform-Learn-More.
About MO Technologies
At MO, we drive technology to make finance more inclusive, digital and seamless. We are a SaaS lending technology company that provides end-to-end digital loan lifecycle management for loans, loan servicing and collections in one complete package. Our product-specific solution enables ultra-fast launch of your highly customized, fully digital, and seamlessly integrated new product with your platforms. We are the right partner for fintechs and classic issuers and enable them to revolutionize the credit industry.
Esri, the world leader in geographic information systems (GIS), location, and mapping software, helps customers unlock the full potential of data to improve business and operational results. Founded in 1969 in Redlands, California, the software developed by the company is used by more than 350,000 organizations and more than 200,000 institutions worldwide in the Americas, Asia Pacific, Europe, Africa, and the Middle East. such as Fortune 500 companies, government agencies, nonprofit organizations, and universities. Esri has regional offices, international distributors, and partners providing local support in more than 100 countries on six continents. With its pioneering commitment to geospatial information technology, Esri develops the most innovative solutions for digital transformation, the Internet of Things (IoT), and advanced analytics. Visit us at esri.com.
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Jo Ann Pruchniewski
Public Relations, Esri
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