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CredoLab develops credit scores based on mobile and web-behavioural data to help lenders make better credit decisions. They strive to make loans accessible to everyone and improve the lives of people who are otherwise left out by the traditional banking processes. CredoLab’s mission is to increase financial inclusivity globally, by transforming the credit decisioning process through their state-of-the-art, data-driven, and cost-effective solution which creates a path for creditworthy individuals to access mainstream financial services.


Established in Singapore in 2016, they have partnered with more than 70 lenders to power almost USD 2 Billion in loans issued across 20+ countries.

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Frequently Asked Questions

1. What is "CIMB Bank Digital - GetVerified"?

"CIMB Bank Digital - GetVerified" is a credit scoring application powered by CredoLab. CredoLab is a smartphone-based FinTech solution provider that generates an alternative credit score to help CIMB Bank Digital make a credit decision when you apply for a Personal Loan.


2. How does "CIMB Bank Digital - GetVerified" work?

When you apply for a Personal Loan with CIMB Bank Digital, the bank may ask you to download this application to receive an alternative assessment of your creditworthiness. If you choose to download and run the application, the app will collect and use information from your phone to generate a credit score. The credit score is provided only to CIMB Bank Digital.


3. How does "CIMB Bank Digital - GetVerified" use information on my phone to create a credit score?

With your permission, the application accesses data points from your phone's Media Library, Calendars, Contacts, Photo Library, and Reminders. The information retrieved is used only to calculate your credit score. The data points collected do not directly identify you for confidentiality purposes. Your information is also not used to sell ads nor shared with any third party.


4. What if I do not download/run "CIMB Bank Digital - GetVerified"?

Not doing so may affect your chances of your application in proceeding.


5. What if I do not allow the various permissions requested in-app by "CIMB Bank Digital - GetVerified"?

The more permissions you grant, the stronger your credit report and the higher chances your application in proceeding.


6. How do I download/run "CIMB Bank Digital - GetVerified"?

CIMB Bank Digital will send via SMS the link to download the application. Included in the SMS is a code and a reference number that you need to input once you have downloaded the application. Simply follow the in-app steps to proceed and run "CIMB Bank Digital - GetVerified".


7. Does "CIMB Bank Digital - GetVerified" work for both Android and Apple phones?

No, "CIMB Bank Digital - GetVerified" only works with Android.


8. Does everyone who applies for CIMB Bank Digital Personal Loan need to download "CIMB?

Bank Digital - Get Verified" app? Only if the Bank requires more information from customer in order to make decision of the Personal Loan Application.


9. Does customer has to pay additional fees for using the app?

No, downloading the app and using the app is free of charge


10. Will customer be able to see the result of credit scoring?

No, customer will not be able to see the credit scoring result/report. Customer will only able to see if the credit scoring result/report has been successfully generated. Only the Bank will be able to view the results

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