A credit-scoring platform for the underserved

Creditworthy applicants are often denied loans or credit cards because they lack the detailed credit histories that banks rely on when giving loans. Furthermore, in Chile and throughout Latin America, for those who do have a credit history, credit scoring is primarily negative; it often over accounts for negative behaviour, and does not factor in positive ones - such as a history of paying bills on time - that are not reported to credit bureaus.

Destácame’s main goal is to empower the mid and low-income segments of the population. Destácame is an alternative credit-scoring platform that uses alternative data to assess individual payment behaviour and creditworthiness. Users take control over their own information, allowing Destácame to create a score by analyzing data from multiple credit-like sources. Users can now demonstrate their creditworthiness to financial service providers, who are looking for better, faster, and cheaper ways to extend credit and other financial products to a largely credit-invisible population.

Through Destácame, people can gain access to financial products, achieve fairer rates, and ultimately improve their lives. So far, more than 17.000 users have applied for loans, while 150.000 people have been able to see their credit report for free through Destácame. And since the entire application process at Destá is online, the cost of ‘acquiring’ a new client for banks is reduced by 70%.