First Access is a financial technology company that aims to use data to improve financial access in emerging markets. It has developed a customizable credit scoring platform for lending institutions, and has worked with microfinance institutions in Africa, Asia and Latin America.
First Access aims to create a comprehensive agricultural credit scoring engine for the use of financial service providers in agricultural markets. The unique element is that rather than creating a database of information anew, First Access hopes to harvest data from various sources relevant to the agricultural sector – from mobile phone data, crop and input data, to weather and warehousing data – to build a credit scoring system that generates deeper and more accurate insights into rural farmers’ context.
Key Areas of Scale
FRP support will be used to further develop the credit scoring system, specifically technical research and design, technical integration of different data sources, and sourcing and collection of alternative data. It will also support product testing as well as ensuring that concerns around data privacy are transparent and well-understood by users.