Smile API is a financial technology solution that provides instant access to comprehensive, verified data about user identity, employment, and income.
Current Status
Have several live customers, with over 600K indviduals helped getting access to loans by simply using their employment and income data.
Problem or Opportunity
There is a lack of reliable, recent, comprehensive data on borrowers because this data is fragmented, not centralized, and does not cover the majority of the population, especially the unbanked or the marginalized.
Solution (product or service)
Smile solves this by using employment data, which is a better indicator of a person’s capacity and character for loan underwriting.
We aggregate and unlock previously siloed employment and income data coming from employment documents, HR and payroll systems, gig economy platforms, and social security systems.
Business model
Smile's data-as-a-service model offers secure, user-authorized employment and income data via a single API, integrating HR systems, gig platforms, and government records. It serves banks and fintechs for credit assessment and income verification while ensuring user data control. Businesses pay for API access, benefiting from enhanced operational efficiency and decision-making. This B2B2C approach monetizes data access and improves consumer financial services.
Incubation/Acceleration programs accomplishment
IdeaSpace 10 (PH)
Impact 23 (PH)
Global Innovation Alliance 22 (PH)
Global Innovation Alliance 23 (ID)
