Edinburgh, Scotland. August 30, 2013 – The Entrepreneurial Finance Lab (EFL) won the Paragon Award for its paper on psychometric creditscoring, marking the first time a firm focused on credit scoring in emerging markets took home the prize. The Credit Scoring and Credit Control Conference at the University of Edinburgh gave the award to EFLCEO Dr. Bailey Klinger, Co-Founder Dr. AsimKhwaja, and Head of Analytics Carlos del Carpio for their submission “Enterprising Psychometrics and Poverty Reduction.” The bi-annual conference is widely considered to be the world’s most prestigious credit-scoring forum and a leading platform for innovation in the global credit arena.
The paper is based on EFL’s groundbreaking psychometric credit-scoring technology, developed from research at Harvard University’s Center for International Development. EFL quantitatively measures credit risk based on key elements of entrepreneurship, enablingbanks to identify and invest in entrepreneurs in markets where traditional credit information is scarce. EFL’s submission to the conference describes the technology’sproof-of-conceptwhenEFL worked with six banks across four countries.
While the credit industry and the Edinburgh Conference have historically been led by firms in developed economies, EFL’s award demonstrates a growing interest in financial innovation for developing economies. Indeed, the greatest unmet demand for capital is in emerging markets, where lending institutions are constrained by a lack of reliable credit information. New credit assessment techniques like EFL’s tool bridge the credit gap and facilitate loans to small businesses worldwide.
“Enterprising Psychometrics and Poverty Reduction” is published by Springer Press as a part of the “Springer Briefs in Psychology: Innovations in Poverty Reduction” series and is available on Amazon.
The Entrepreneurial Finance Lab (EFL) partners with institutions in emerging markets to assess credit risk for micro, small and medium enterprises (SMEs) by using psychometric and nontraditional applicant data. EFL works in 20 countries across Africa, Asia, and Latin America, and has been recognized by the G-20 as one of the most innovative approaches to SME finance. Learn more at www.EFLglobal.com.
About the Edinburgh Conference
The conference, “Credit Scoring and Credit Control XIII,” is the premier forumof discussion on the theory and practice of credit scoring and credit control. The 2013 conference was attendedby 400 delegates from leading banks, universities, credit-scoring and analytics firms across 40 countries.
Contact EFL at: firstname.lastname@example.org
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