Cream's goal is to leverage Open Banking as a data source to deliver instant loans quickly. Cream is an application designed by Faire.ai for Banca Progetto that will allow you to apply for an instant consumer credit loan through a digital path. The main feature that distinguishes Cream from other instant lending platforms is the credit score mechanism used to assess the financial reliability of those requesting a loan: in fact, thanks to Faire.ai, age, origin and territoriality are no longer the decisive factors. They are replaced with habits and categories of expenditure, as well as the trend of the relationships between income and expenditure, which become the reference parameters.
Naturally, the data base on which to formulate the credit scoring is provided thanks to Open Banking, in partnership with Fabrick which provides the account aggregation service, on which Faire analyses conducted with machine learning and AI are grafted.
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