Credit Score Gamified
— Fellows Coins
role: senior product designer, visual designer
year: 23-2024
summary
a decrease in exposure by 56M EGP, a 12% reduction in default rates, and a 10% improvement in user retention rates were achieved by transitioning to behavior-based assessments with ML model and introducing a gamified Credit Smart Points system.
these innovations addressed the challenge of unclear credit assessments and costly, unscalable manual processes, enhancing user understanding and engagement while streamlining operations.
so, what was the problem?
Money Fellows is a fintech startup significantly impacts the sector by digitizing traditional money circles to make saving and borrowing simple and secure. To secure a license from the Central Bank of Egypt [CBE], Money Fellows needed a reliable credit assessment system to replace their manual assessment process.
— user challenge
users lacked clear communication about their credit assessments and guidance on improving their credit standing.
— business needs
traditional credit assessments confused users, leading to disengagement and lost business opportunities. manual processes were costly and unscalable, complicating the assessment process for the unique dynamics of money circles.
additionally, to obtain a license from the CBE, Money Fellows required a reliable credit assessment system to meet regulatory demands.
