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Around the world, millions of people find themselves in a chicken-or-egg-type dilemma. Even though they have steady income, they still can’t get started accessing credit, because of lack a formal credit history. Yet, most of these consumers carry a smartphone, are online and connected through email and other non-traditional data sources, leaving behind a digital footprint that could be analyzed to demonstrate their likely approach to credit.

Social data empowers millions of people around the world through their transactions with financial services providers. Why not help us to start this conversation in Australia?

Lodex has teamed up with Lenddo to give you access to your social score and a different kind of credit profile that could complement the one you already have.

When you are searching for credit your social score will provide additional insights into who you are and help you introduce yourself to your potential credit provider.

Join Lodex and be part of the transforming world of data.



Getting your social score is easy and free


Step1
1

Access the Lenddo tool when filling out your profile

Step2
2

Allow access to your primary email

Step3
3

Receive your Lenddo Social Score in minutes

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What is a social score?


Lodex has teamed up with Lenddo to introduce into Australia the idea of using technology to provide a new way to help assess individual credit risk.

It is a form of Credit Scoring using non-traditional data, and the Score ranges from 1 to 1,000 (the closer the score is to 1,000 the lower the credit risk). Overseas, it has been shown to be a powerful predictor of a consumer’s willingness to make payment.  It has been adopted by many lenders in many countries across the world as a means of supporting more consumers to access credit.

We are proud to introduce this initiative to Australian consumers and lenders. We don’t expect our lenders to use the social score right away. There is lots to consider by everyone before social scores can become a formal part of the Australian credit landscape. However there is good evidence out there in other countries this is the right time to start thinking about the benefits of social scoring here.

What content does social scoring look at? When the individual provides consent, the Social Score algorithm considers up to 12,000 variables (time to respond, number of contacts, text in subject line, etc), processes this information and then calculates and pushes out a Score. It does not look for personal information within e-mails. It considers metadata only.

Score lenddo

More about Lenddo and Social Scoring?


Lenddo is the world leader in predictive analytics using digital data providing social scoring solutions and verification services to 20 countries and has been around since 2011.

Following is a brief guide to Lenddo social scores.

Learn more here

Excellent

81-100%

Based on history, scores in this category indicate an extremely strong likelihood to have the character to repay on time, all the time and the analysis of the digital footprint shows that an adverse event such as a default, court judgement, personal insolvency or similar, is highly unlikely to be recorded on a credit file in the next 12 months.

Very Good

61-80%

Based on history, scores in this category indicate a very strong likelihood to have the character to repay on time, all the time and the analysis of the digital footprint shows that an adverse event such as a default, court judgement, personal insolvency or similar, is unlikely to be recorded on a credit file in the next 12 months.

Good

41-60%

Based on history, scores in this category indicate a strong likelihood to have the character to repay on time, all the time and the analysis of the digital footprint shows that an adverse event such as a default, court judgement, personal insolvency or similar, is less likely to be recorded on a credit file in the next 12 months.

Fair

21-40%

Based on history, scores in this category indicate an average likelihood to have the character to repay on time, all the time and the analysis of the digital footprint shows that an adverse event such as a default, court judgement, personal insolvency or similar, is as likely to be recorded on a credit file in the next 12 months.

Below Average

Bottom 20%

Based on history, scores in this category indicate a likelihood below average to have the character to repay on time, all the time and the analysis of the digital footprint shows that an adverse event such as a default, court judgement, personal insolvency or similar, is more likely to be recorded on a credit file in the next 12 months.




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Disclaimer

Your Social Score is only calculated if you give us consent. It is calculated by a third party outside of Lodex, and is passed through to Lodex. Social Scores take into consideration behavioural analysis. There is no social demographic or economic information used in the circulation of a Social Score. Your Social Score can be deleted at your request by contacting Lodex at [email protected] . You may decide to share your social score with financial service providers when you create a request. We will not disclose your Social Score unless you instruct us to.