Financial Services for the Underbanked and Emerging Markets with Florentin Lenoir of LenddoEFL

Many of us in the United States and in Europe may take our established financial systems for granted. Applying for loans (either business or personal), having a credit history, and using many other financial services is a relatively simple process.

But what if you didn’t have traditional credit? What if there aren’t necessarily bank branches on thousands upon thousands of street corners in your country?

Fortunately, there are more and more options becoming available for folks in emerging markets, and financial technology is helping connect them with lenders and other financial services. Our guest this week is Florentin Lenoir, the Chief Of Staff & VP for Verification at LenddoEFL.

LenddoEFL, has a vision is to provide life-changing financial products to more than one billion underserved individuals around the world. They believe that financial inclusion isn’t simply about access to financial products, but about access to fast, affordable, and convenient financial products. Flo chatted with Scott about this, the tech behind their offerings, and more. Listen in!

Payments & Fintech Insights In This Episode:

  • Why it’s important for both ordinary people and financial institutions to make it easier for underbanked individuals to utilize financial services.
  • How LenddoEFL utilizes technology like machine learning to process alternative data and better serve those in emerging markets.
  • What challenges LenddoEFL faces as a growing global organization… and how they overcome them.
  • Flo’s thoughts on fintech and payments today… and where it’s all going.
  • With a whole bunch more!

Featured on the Show:

Payments & Fintech Spotlight: LenddoEFL

LenddoEFL’s mission is to provide 1 billion people access to powerful financial products at a lower cost, faster and more conveniently. We use AI and advanced analytics to bring together the best sources of digital and behavioral data to help lenders in emerging markets confidently serve underbanked people and small businesses. To date, LenddoEFL has provided credit scoring, verification and insights products to 50+ financial institutions, serving 12+ million people and lending $2.5+ billion USD. Find more information at https://include1billion.com/.