In plain English...
If you've ever applied for a credit card or a car loan or any type of loan, a bank uses a 3 digit credit score that is based on your past behavior of paying back on time and in full. The better you are at this, the better your score, which enables you to get a loan for yourself, your business, whatever.
However, in emerging markets where we work (Latin America, India, Africa, Indonesia), there are many, many successful and deserving small entrepreneurs that want to expand their business but can't because they don't have a history with a bank, so the bank won't lend to them. We've developed a way to produce a credit score off of a person's inherent entrepreneurial characteristics - the higher one scores, the more likely one is to get a loan whereas otherwise they would be the "unbankable". We believe that this is a very effective way to lifting people out of poverty and are on a mission to scale our technology.
The formal answer...EFL has developed effective, automated and scalable tools to identify high potential, credit worthy entrepreneurs. These tools are based on psychometric principles, drawing on results from decades of research. The EFL Tools have been statistically proven to reduce risk and have been used by financial institutions in over 20 countries. Results have shown that the EFL Tools can reduce default rates and expand lending while carefully controlling risk.