Thin-file, emerging market, credit-scoring technology company selected by SWIFT innovation competition as one of the most promising start-up businesses in the Americas, to compete in the Grand finale at Sibos
Cambridge, June 18, 2013 – The Entrepreneurial Finance Lab (EFL), was selected as a finalist at the SWIFT Innotribe Startup Challenge Regional Showcase where it competed against 13 other startups. EFL’s Chief Operating Officer, DJ DiDonna pitched their psychometric and non-traditional data credit scoring solution to a panel of the financial industry’s leading angels, VC’s and decision makers held at SWIFT’s New York offices on June 13, 2013.
As one of the top five finalists in the growth-stage innovator division, EFL will now advance to the Innotribe Startup Challenge final to be held at Sibos, SWIFT’s annual conference, in Dubai in September to compete against finalists from the London and Singapore Showcases.
DJ DiDonna, Chief Operating Officer, The Entrepreneurial Finance Lab said, “it is an honor to be recognized for our thin-file, credit scoring technology. This award will provide EFL with a global platform to reach financial institutions that are searching for new and effective ways to lend to unbanked businesses in emerging markets. We are looking forward to presenting at Sibos in September.”
Matteo Rizzi, co-founder at Innotribe said: “This year’s New York Showcase featured start-ups that are poised to become the future of the financial industry. The pitches were very engaging and the finalists should be proud of their accomplishments. Now in the second full year of the Startup Challenge, we are excited to see how our network of industry professionals has grown, enabling us to offer a much needed platform for these great emerging businesses. Congratulations to The Entrepreneurial Finance Lab on their achievements and we look forward to welcoming them at the Innotribe Startup Challenge final at Sibos later this year!”
About The Entrepreneurial Finance Lab
EFL’s emerging market credit-scoring technology enables financial institutions to evaluate any business regardless of size, industry or possession of financial statements. EFL uses psychometric principles and other non-traditional data to generate highly predictive credit scores by statistically relating entrepreneurial qualities such as intellect, business acumen, ethics, and attitudes and beliefs to business success and failure. EFL has successfully lowered defaults and increased small business loan portfolios of some of the largest banks in 20 countries across Africa, Latin America and Asia. In the process EFL is helping banks generate close to two million dollars weekly and $170 million dollars in new loans to deserving entrepreneurs in emerging markets.
For more information about The Entrepreneurial Finance Lab, please visit www.EFLGlobal.com.