BUS News
Business graduate leads team to win seed funding at Cyberport startup competition
14 Mar, 2022
The team leveraged technology to provide a solution, called Kresco, for the financial needs of low-income earners. It empowers users to save and build their credit history using alternative data, becoming credit-visible in the process. The solution also provides a range of value-added services to financial institutions, including an integrated suite of analytic and decisioning solutions that help lenders manage risk more effectively and make objective decisions throughout the customer credit lifecycle.
Mathias explained that they were inspired by the rigidity and patently archaic way of measuring creditworthiness for both individuals and organisations. He also noted that for individuals who do not have the traditional measures of creditworthiness or people who may have become credit invisible simply because they moved from one country to another, accessing basic credit facilities from financial institutions is near impossible. KreSco removes this barrier to financial inclusion.
Mathias and his teammates, Yan Cheng (MPhil in English Studies) and Kwan Ting Fok (graduate of BSc Mathematics and Statistics), are working on the prototype with the funding. They were mentored by Miss Queenie Lee, Associate Director of MSc Finance (Fintech & Financial Analysis), and Areeb Siddiqui (CEO of KESTRL, and an affiliate of the Entrepreneurship Centre at Cambridge Judge Business School, UK). The team is grateful for the support of the mentors and the Business Entrepreneurship Support Training (BEST) section at the Knowledge Transfer Office.