Press releases

ID Finance issued over 1 mn loans to underbanked

   

ID Finance issued over 1 mn loans to underbanked

Emerging markets fintech leader ID Finance has reached an important performance milestone. Since the launch of the Group’s first project in 2012, the ID Finance’s assets have issued over 1,059,500 loans for the end of the first half of 2017. Total amount of the loans exceeded $223.5 mn.

The assets of ID Finance Group provide financial services, including lending for underbanked population in six 6 countries across Europe, Asia, Caucasus and Latin America. The ID Finance R&D Centre is located in Minsk, Belarus.

The company continues to follow a strategy aimed at geographic expansion, diversification of funding sources, as well as expansion of the range of financial products in the direction of near prime and middle class credit segments. The further development of ID Finance assumes growth in lending with an improvement in the quality of the loan portfolio, as well as an increase in the base of loyal solvent customers.

The main financial indicators of ID Finance have adequate values, and the credit risk is estimated as insignificant. The company timely and fully complies with existing commitments, thereby increasing the level of its creditworthiness, and is able to attract funds for development on favorable terms.

Boris Batine, ID Finance co-founder: “The achievement of an important milestone reflects the company’s leading position in a global alternative digital finance industry. We note a significant increase in ID Finance’s capital, growth in revenue and profit. We managed to assemble an experienced team of professionals, and to ensure a balanced approach to the assessment of borrowers. The company adheres to advanced approaches to risk management based on ML, DL and AI tools, the ID Finance’s strategy is clearly developed and is being consistently implemented”.