What is credolab and why do I have to give the Oraan app permissions?

To protect our members and to assess your credit risk, Oraan requires one-time access to your your installed Apps, and Registered Accounts. We never view or store your personal data and we respect your privacy. Anonymised and pseudonymised data is shared with CredoLab Pte Ltd. to assess your credit risk.

Oraan sends this metadata to CredoLab, a secure credit analysis service provider. Oraan DOES NOT see or store this data. CredoLab analyzes the data and provides Oraan with a risk score. We use this score as part of our decision making process to review your Oraan Committee application.

By enabling access to Registered Accounts which might include Social Accounts and Installed Applications, CredoLab will collect data to better evaluate your application. This information is only accessed once, collected in the form of metadata, and used to calculate a more accurate risk score.

How is this data used?

We use the data as part of our decision process to assess your creditworthiness for a committee with us and build your Oraan Score.

We may also use your data to assess your interest in receiving financial services through algorithms and mathematical modelling.

What data is collected?

We collect data from your phone to provide a segmented risk profile and generate aggregated statistical information.

To protect your identity, we remove all personal identifiers (if any) and pseudonymised such information. Any metadata processed in this way cannot be used to reproduce the original data collected.

This data is ONLY used for the purpose outlined above and is protected from unauthorized usage and disclosure.

Is the data collected shared with any third party?

The data collected is shared with selected providers of data analytics services. The service providers are described below:
CredoLab Pte Ltd.

Our mobile technology may count the number of registered accounts, including your social accounts. However, we will only NOT access the social media profiles and we will NOT analyse the information in the applications connected with them.

Credolab

CredoLab’s privacy policy is available here.

To read more about Oraan’s privary policy, click here.