Traditional credit scoring relies on the financial information provided by the loan applicants, but MSME lack sufficient credit history and readily available financial records. Banks may find it difficult to assess their creditworthiness. In view of this, ASTRI conducted a study and explored the use of financial technologies to develop an alternative credit scoring. It can produce credit scores for MSME based on both alternative and conventional data.
The Hong Kong Applied Science and Technology Research Institute (ASTRI) was founded by the Government of the Hong Kong Special Administrative Region in 2000 with the mission of enhancing Hong Kong's competitiveness through applied research. ASTRI’s core R&D competence in various areas is grouped under five Technology Divisions: AI and Big Data Analytics; Communications; Cybersecurity, Cryptography and Trusted Technologies; Integrated Circuits and Systems; and IoT and Sensors. It is applied across five core areas which are Smart City, Financial Technologies, Intelligent Manufacturing, Digital Health, and Application Specific Integrated Circuits.