Ray Dalio, the founder and co-Chief Investment Officer of Bridgewater hedge fund, has explained in a very simple way how credit resides in the core of our economic system. Credit is provided by banks to people based on their creditworthiness which in turn is defined by the assets they possess. Creditworthiness in the US is measured by three credit bureaus, but such bureaus do not exist in all countries around the world and no country accepts the other country’s credit scores, when assessing relocating individuals. This attitude towards measuring credit risk creates numerous challenges to people all over the world. Today, most decisions about credit assessment are based on credit profile snapshots. This has created a vicious cycle where, in order to get credit you need to have a credit score, but in order to get a credit score you need to make use of a credit account. Such an approach created numerous barriers for people who wished to enter the financial system and get access to credit products. Finclude, in order to provide its score, analyses with machine learning techniques patterns in transactional and spending behavior, so it provides granular and dynamic visibility in each individual’s creditworthiness profile. By taking into consideration Finclude’s score, financial institutions are able to make more knowledgeable and fair financial decisions. In this way, more people are able to get access to credit products and, more importantly, we all get the chance to loan terms and pricing customized to our financial profile. Our solution was made possible with the introduction of PSD2, which enables bank customers to use third-party providers, like us, to manage their finances. Banks are obligated to provide these third-party providers with access to their customers’ accounts through open APIs (Application Program Interface). Finclude’s recipe for this new financial well-being score is based on these open APIs, on years of domain expertise, as well as on new machine learning-based techniques. We are committed to providing financial institutions with the visibility to make more accurate and fair financial decisions , ensuring at the same time that more people gain access to credit. In essence, we enable EU citizens to get access to financial services from all over the EU, as well as to travel freely across the continent getting their credit profile along with them. Up until now this was not possible and each time an EU citizen relocated to another EU country, they had to start from scratch; which is time consuming, unfair and frustrating. We enable the underbanked, the millennials, the young professionals, the self-employed individuals and many more, who might be underserved by the banking system, to get access to credit facilities. Finclude is able to assess and to provide creditworthiness score to those that are, currently, excluded from financial facilities or underestimated by their bank. Join the revolution! Add your details to our waiting list and be one of the first to enjoy the merits of financial well-being!