Credolab and Circulo de Credito to boost financial inclusion in Mexico


Credolab has announced a partnership with Circulo de Credito that aims to increase financial inclusion to Mexico by providing innovative credit, risk and fraud scoring solutions. 

The Mexican Credit Information Society firm will partner with Credolab to offer a Digital Behaviour Analysis Solution through its API marketplace. The solution includes behavioural insights about risk and fraud, available for over 3,500 B2B clients, including banks, retailers, and fintechs. 

The partnership also allows Circulo de Credito to deliver to its B2B clients stronger predictive power, improving the risk and fraud assessment of any borrower’s likelihood to default, even thin-files, gig-economy workers, millennials and small businesses. 

“Being the most innovative Credit Bureau in LATAM, our primary objective is to promote financial well-being and foster trust between lenders and their beneficiaries,” said Juan Manuel Ruiz Palmieri, CEO of Circulo de Credito.

“By partnering with credolab, we are able to extend our assistance to more companies and individuals, empowering them to understand crucial financial information, which in turn will help them achieve their economic and financial goals.”

Circulo de Credito has enabled 20 million Mexicans to access credit using household data, with its solutions have seen banks and other lenders make 200 million credit decisions. 

Peter Barcak, CEO of Credolab, added: “The lack of predictive data is still one of the main pain points of any financial institution. 

“The partnership with Circulo de Credito allows us to promote a greater scope of financial inclusion in Mexico by helping lenders understand their clients better.”