Scoring for microfinance, with Joffre Toerien (Credit Insight Analytics)

How to Lend Money to Strangers

Brendan le Grange

Business, Careers, Fintech, Management, Lending, Credit, Banking

4.9 • 43 Ratings

🗓️ 29 July 2021

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

We like to talk about algorithms, and big data, and machine learning, but sometimes we’d do well to take a step back and ask about what the business really needs. This is especially true in developing markets, where consultants can forget to bring the organisation along with them when they implement the latest and greatest scoring tech.

In this episode 5 of How to Lend Money to Strangers, I speak to Joffre Toerien of Credit Insight Analytics about the lessons he has learned building scorecards for microfinance lenders in Africa and Europe, how he manages the balances between scorecard predictiveness and organisational inertia, and a little bit about lending in Georgia, a country of 4 million nestled between Eastern Europe and Western Asia.

You can find a full written transcript of the show, plus articles and more at www.howtolendmoneytostrangers.show/episodes

You can learn more about Joffre and his work at https://www.credit-insight.com/

You can learn more about FINCA at https://www.fincaimpact.com/

You can learn more about Cardano at https://africa.cardano.org/

You can reach me with questions, or to participate on the show by emailing brendan@howtolendmoneytostrangers.show

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Transcript

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0:00.0	Saudi Arabia's economy is transforming. What's behind it? The Public Investment Fund, or PIF.
0:07.1	It's one of the largest sovereign wealth funds in the world, creating 13 new sectors,
0:12.2	66 companies, and more than 500,000 direct and indirect jobs so far. PIF is also the first
0:19.5	sovereign wealth fund to issue a green bond supporting Saudi Arabia's 2016 Net Zero emissions target.
0:26.6	Find out more at pif.gov.sa.
0:32.4	To put it in perspective, right, Georgia, the country, I would say, is half the size of the state
0:37.6	in America, in the population and in the size.
1:01.2	Welcome back to How to Lend Many Two Strangers. The podcast about lending strategies
1:06.1	across the credit life cycle and around the world. Last week we were in China, a country with
1:12.0	1 billion people. This week we're in Georgia, a country of just 4 million people nestled between
1:18.4	Eastern Europe and Western Asia. I'm joined by Joffrey Churrin. Joffrey started his credit
1:24.1	career with a furniture retailer in South Africa, before moving through Uganda and Tanzania to Georgia,
1:30.5	where he's now the direct head credit inside analytics. Along the way, Joffrey has developed some
1:35.6	impressive experience building models for microlenders in emerging markets. If you would like to
1:40.6	work with him, you can find more at creditinsight.com. Georgia, it's obviously a country that's not
1:50.6	top of people's minds. I know of it strangely enough from a wine tasting in Hong Kong when there
1:56.5	was a Georgia wine stand. But what is Georgia like when you are lending? Yeah, so Georgia is a very
2:03.6	old country. If you had something in the 18th century, it would be really old. But I mean here,
2:09.3	you have buildings that were built in the 5th century. But yeah, maybe just quickly I got here.
2:14.0	So joined a microfinance network of 20 countries and I was responsible for scoring analytics in Africa.
2:22.0	We stayed Uganda and Tanzania and then the color roll as the global lead for credit risk.
2:26.9	And that was between the UK and Georgia. And luckily for us, I wanted to do Georgia and it kind of worked out.
	...

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