Product LaunchCanonical—
Ascend Money Launches Microloan Service for 15M Underbanked Thais Using Digital Wallet Data
Ascend Money, a Thai fintech firm, is introducing a microloan service targeting 15 million underbanked individuals in the country. By leveraging alternative data from its digital wallet, such as spending patterns, the company can assess creditworthiness without traditional financial records. The loans start at $20 with a 2% monthly interest rate, providing a more affordable alternative to informal lenders. This initiative aims to expand financial inclusion in Thailand by reaching a significant portion of the population ignored by conventional banks.
