Intro

Overview

EFL uses alternative data and innovative technology to power lending in the world’s leading financial institutions.

Our credit assessment collects and analyzes psychometric and behavioral information about borrowers to better forecast their likelihood of default.

This demonstration is designed to illustrate some of the different features of the EFL credit assessment as experienced by our end-users. Many aspects of the experience can be customized, including language and platform (web, mobile, tablet).

Let's Get Started

In this demo, we will walk you through a summarized version of our assessment. For our users, the assessment usually takes about 15 min and can be given on any device. Please tell us a little bit about yourself before we get started:

Let's Get Started

As you progress through the demo, learn why EFL asks specific questions by clicking on "info" in the top right hand corner. Please note this feature is not available for all questions.

Age:

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Exercise 1.1

Overview

Info

How many hours in a typical week do you work?

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80+

Why ask this question?

As you progress through the demo, notice whether the questions have clear right or wrong answers.

Each question is worded intentionally to learn something specific about the applicant, in this case, self-perception, and later on, consistency in their stated beliefs. This helps us to place the applicant with respect to others, and to detect how much their responses deviate from their true beliefs, versus what they perceive as the "correct" answer.

About EFL

EFL’s digital credit assessment helps lenders safely turn a "No" into a "Yes" by leveraging universally available psychometric and behavioral data. Validated by over 10 years of experience, EFL has enabled more than $1.5B in loans at leading financial institutions across Asia, Africa, Latin America and Europe.

Exercise 1.2

Overview

Info

Move the slider to which statement best represents you.

Problems never make me question my goals.

I'm in the middle.

Problems tell me that I need to set new goals.

Why ask this question?

Now take notice HOW the question itself is answered.

How long did it take you to slide to one answer or another? Did you change your opinion in the middle, or were you fast and confident as you selected?

Unlike traditional bank applications, EFL's approach gathers data on how your client answers in addition to what they claim about themselves. For example, how confident is the applicant in their monthly revenues/turnover? Is their initial versus final answer consistent with their written request to the financial institution?

This technology approach enables deeper insights into confidence, reliability, and ultimately fraud.

About EFL

EFL’s digital credit assessment helps lenders safely turn a "No" into a "Yes" by leveraging universally available psychometric and behavioral data. Validated by over 10 years of experience, EFL has enabled more than $1.5B in loans at leading financial institutions across Asia, Africa, Latin America and Europe.

Exercise 1.3

Overview

Info

If a family member offered you the choice between these 2 options, what would you select?

Why ask this question?

EFL's technology is based on over a decade of academic research and ongoing collaboration with leading experts in the fields of behavioral finance and economics.

Questions like these give insight into household and business financial decision-making by exploring how individuals value their own time, as well as their risk aversion and perceived ability to create opportunities for themselves.

About EFL

EFL’s digital credit assessment helps lenders safely turn a "No" into a "Yes" by leveraging universally available psychometric and behavioral data. Validated by over 10 years of experience, EFL has enabled more than $1.5B in loans at leading financial institutions across Asia, Africa, Latin America and Europe.

Exercise 1.4

Overview

Info

Which image best represents how people in your community behave?

I don't understand the image.

Please tell us why you don't understand the image:

Why ask this question?

EFL's global client-base serves customers across the spectrum of literacy, familiarity with technology, and cultural differences. These factors often introduce loan officer bias into traditional bank application processes, where incentives are to have as many applications approved as possible.

Alternatively, EFL is at the frontier of simple, technology-enabled visualized communication using Human Centered Design. This enables EFL to administer loan applications direct-to-customer, accurately forecasting risk among a diverse population of applicants previously unable, or intimidated by traditional processes.

About EFL

EFL’s digital credit assessment helps lenders safely turn a "No" into a "Yes" by leveraging universally available psychometric and behavioral data. Validated by over 10 years of experience, EFL has enabled more than $1.5B in loans at leading financial institutions across Asia, Africa, Latin America and Europe.

Exercise 1.5Overview

Info

How many businesses are honest with their clients in your community?

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100%

Why ask this question?

Crucial to understanding risk is identifying people with no intention to repay a loan. Using methods developed for measuring integrity in employment screening, EFL can learn an individual's viewpoint of the world around them. This understanding influences how people act in times of crisis and in those of stability, and allows us to view them relative to the pool of applicants competing for the same loan.

Each EFL loan application contains thousands of data points about the customer, all of which are analyzed along with their repayment behavior to identify patterns, learn, and constantly improve. Hundreds of thousands of applications and hundreds of millions of dollars have been safely administered and lent to previously unreachable customers across the world using EFL.

Continue on to learn more!

About EFL

EFL’s digital credit assessment helps lenders safely turn a "No" into a "Yes" by leveraging universally available psychometric and behavioral data. Validated by over 10 years of experience, EFL has enabled more than $1.5B in loans at leading financial institutions across Asia, Africa, Latin America and Europe.