How is Zolve developing its credit underwriting model in India and integrating it with the norms of the US credit bureaus and banks?

In some sense, it’s hybrid. Part of it we do in-house. The algorithm is proprietary. We use some vendors to help us with data processing and things like that. 

In terms of credit underwriting, there are two parameters that we will look at. One is the intent to pay. The intent to pay comes from your credit history in the local country. How many credit lines do you have? Do you pay for those things on time? Were there delayed payments? Things like that. There are other surrogates for intent to pay, also. Which university did you study at in India? Which university are you going to? Who's your employer? Where were you previously employed? Do you have an education loan? Does it cover living expenses? What is your pay? What is the CTC? What's the salary? On all those things, you can get that information. Based on that, the algorithm says, “Okay, so-and-so has a great intent and I believe will also be able to pay. We should issue them cards.” So that's how we do this.