Focused on driving credit inclusion and ensuring that the underserved get credit access through our APIs designed for lenders, we are excited to share that Decide v3 is live. Decide v3 comes with updates that will further mitigate your credit risk, help you better identify the right people for disbursements, improve your collections, and expand credit inclusion for Nigerians and Africans.
Having observed and identified changes happening in the economy and tech, it’s crucial that these reflect in the data and technology we use.
So, here’s a quick glance at what to expect:
- You can now identify gig workers (freelancers, entrepreneurs, Uber drivers etc.) and individuals that spend on investments (Trove, Rise, PiggyVest, etc.)
- We’ve switched from Python to GoLang, making processing time 4x faster for multiple requests.
- New variables will automatically get applied to improve decisioning without changing your existing integration.
Discover more valid borrowers with Gig Worker and Savings & Investments Variables
With the Covid-19 period came many opportunities and self-awareness for individuals, especially concerning growing their finances. The uncertainty of jobs alongside the staggering economy led people down a path of exploring alternative streams of income and financial growth.
Prior to discovering this economic shift, our income data only favoured income earners working a standard 9–5 job, while our spend data focused on expenses. However, with the new change, our data reflects a new category of income earners and individuals that spend on investments.
This new category of income earners have a non-standard income stream, and are often referred to as, Gig Workers. Those who fall into this category are Uber/Bolt drivers, freelancers (writers, designers, developers, etc.), Instagram vendors, Entrepreneurs, etc. The gig economy is an evolving one which you can read more about here.
Similarly, there’s also been a spike in how individuals save and grow their finances through savings & investments. Individuals are dispensing large sums to platforms like PiggyVest, Rise, Trove etc., to increase their financial capacity. Previously, money disbursed to these platforms got recorded as standard debits. However, with the new update, these debits are now identified as “spendOnInvestments” which gives the individual a more positive outlook as a viable borrower capable of paying back.
These variable updates further reduce your credit risk, while increasing your disbursements to the right people.
Goodbye Python, Hello GoLang!
Decide v3 not only optimises the accuracy of the data you analyse, but also, the performance time of the analysis. The switch from Python to GoLang has an evident effect on multiple requests as the processing time if now 4x faster than it used to be.
Automatic variable updates without technical interruptions
As we stay up-to-date on trends and discover more data points, having these reflect in your analysis to improve accuracy of your decisioning is a no-brainer.
In the previous version (v2), variable updates would have required you to switch to a new endpoint to have the new variable pushed and applied to your analysis. However, this new update has now been made more seamless such that new data variables get automatically pushed and applied to your analysis. Hence, ensuring that you do not tamper with your existing setup or require a technical resource to get variable updates.
How to Get Started with v3
- For merchant portal users: Decide v3 is live and ready for use.
- For API integration users: Check out the v3 documentation here, start making API calls using the new endpoint — {https://api.indicina.co/api/v3/client/bsp}, and you’re all set to enjoy more accuracy and better performance!
Got questions? Our support team is readily available to assist. Feel free to reach out here.
Happy decisioning! ????
