Quipu
Submitted by:
Quipu
Location:
Colombia
About the Solution
Quipu leverages AI to offer the technical infrastructure to bridge the financial inclusion gap for micro, small, and medium enterprises (MSMEs). Their approach integrates comprehensive onboarding for MSMEs, a robust scoring model analyzing non-traditional data, and intelligent disbursement and credit collection. The AI-driven credit alternative scoring model utilizes machine learning algorithms to analyze a diverse array of alternative data points, such as mobile transaction histories, social media interactions, SMS, and payment patterns. This approach allows for a comprehensive and accurate assessment of creditworthiness, particularly for those businesses typically excluded from traditional financial systems.
As a result of this challenge, Quipu has undergone a fundamental transformation, primarily in our data management and algorithmic maturity. Furthermore, the program helped us gain a deeper understanding of our clients and the specific solutions they need, largely through the implementation of Edu Bot.
Mercedes Bidart CEO & Co-founder Quipu
AI that Works for All:
AI to Accelerate Inclusion Challenge Impact Report
Quipu seeks to enhance financial inclusion for small businesses typically excluded from traditional banking in Colombia. Their scoring model allows insight into true repayment capacity, granting entry to formal credit for those rejected by standard scoring models. As a result, beneficiaries see businesses grow and incomes increase.
Outcome
Over 70,000 users analyzed with the alternative scoring model, 30,893 clients were disbursed credit, 2,157 applicants “rescued” after being initially rejected by traditional scoring models, 11,892 users interacted with financial literacy resources, and more than 5,000 loans deployed. Beneficiaries saw an average income increase of 13.11% after accessing Quipu’s financial solutions.
Meeting Milestones
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1
Deployed more than 5,000 loans that incorporated SMS-based scoring, including 2,157 applicants who had initially been rejected by traditional scoring models but were proven creditworthy through alternative
AI models. -
2
Completed the initial phase of Edu Bot, reaching a peak of 7,000 monthly active users, which informed a strategic redesign of the tool to be a centralized solution hub that guides users through their financial journey via WhatsApp.
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3
Initiated formal ISO security certification and expanded commercial pipeline to include potential pilots in Paraguay, Peru, and Chile.
See more Awardees
Meet the AI2AI Challenge Awardees
Each of the Challenge awardees is using innovative approaches that tackle very different aspects of inclusive economic growth, underscoring the intersectional nature and complexity of these pressing social problems.