January 2021

2021 is the year for Hong Kong money lenders to look beyond traditional credit scores

In the US alone, 60 million adults are credit-invisible, this means, people has a limited or no credit history. Traditional credit scores are not available for these credit-invisible people, so they can’t help them to navigate financial inclusion because traditional scores can’t prove their creditworthiness. In Hong Kong, the city is the international financial hub and matured consumer credit market however, there are still some people who have difficulties in accessing to the financial services they need. Millennials and Gen Z, workers from overseas and domestic helpers, many of them are either credit-invisible or thin-file and unable to measure their financial ability based on traditional credit scores. Now, under the […]