Reall are delighted to be partnering with India-based technology firm, Syntellect. Syntellect are committed to giving unbanked people the opportunity to access mortgage finance across Africa and Asia. Syntellenct has created RightProfile, a customer profiling platform designed to help lenders accurately assess the credit risk of potential clients who are unbanked, new to banking, or new to credit get access to mortgages.
Owning a home is still an unattainable goal for many Asian and African people living on low-incomes. Across these geographies, potential borrowers on low or informal incomes are excluded from financial provision due to insufficient data of their creditworthiness. Syntellect’s innovative solution bridges this gap through the use of data profiling. Using this data, families will be able to prove their creditworthiness and secure their own homes though access to mortgage finance.
Three billion people will need new housing and basic urban infrastructure by 2030 according to UN-Habitat. Without finance solutions for the urban poor and unbanked families will not have access to decent, formal housing. The partnership between Syntellect and Reall will increase access to finance for affordable housing for low-income groups. RightProfile, will provide the data to unlock the financial means to accessing affordable housing.
Reall’s Head of Asia, Emma Ahmed said: Syntellect is a key strategic partnership for Reall because their tech platform, RightProfile, delivers a scientific approach to demonstrating the creditworthiness, specifically for mortgages, of the unbanked and new to credit customer. This platform has the potential to transform the low-cost affordable housing market when applied by developers, banks and credit lenders by opening up access to new customers. The potential for opening markets across Africa and Asia is unlimited.
Sumedha Naik, Founder and CEO of Syntellect said: â€œWe are delighted to partner with Reall, they are innovators and investors in the affordable housing movement with over 30 years experience. For us it’s an opportunity to align with an organisation committed to the same cause, learn from their vast experience and together improve the lives of people across Asia and Africa, empowering low-income households through financial inclusion.