Launch of Fido, even the credit invisibles will finally have access to financial services

Through a patent-pending AI-based platform that detects digital footprints, it will be possible to score people without a credit history and facilitate their online financing

18 Jan, 2021 pmt 16:32 · 2 min


Milan, 18 January - Fido, the Italian-owned digital credit scoring company, which has created Europe's first platform for rating the quality of new online consumers through digital footprint recognition, became fully operational at the start of the year.

In Italy, it is estimated that there are over 12 million so-called credit invisibles, i.e. those without a credit history (e.g. young people aged between 18 and 25, immigrants or people who do not have a bank account) and therefore unable to make purchases with instalment payments or receive personal loans.

Lack of credit history is not necessarily a sign of unreliability. Hence the business idea of Fido: a scoring algorithm that analyses the fingerprints of users (the so called “footprints”) as a complementary tool to traditional risk assessment systems.

Thanks to a proprietary tracking system, after obtaining the approval of the end consumer, Fido collects, in real time, the information needed to rate their reliability and predict possible defaults.

This information, analysed and classified according to more than 150 signals (e.g. e-mail address, telephone provider or type of device used) makes it possible to "classify" and rate consumers accurately and effectively and to estimate the odds of non-repayment of credit.

The service is tailored for companies of all sizes (consumer credit companies, digital retailers, small start-ups) that need to rate the quality of new customers in a simple and immediate way. Access is via API (Application Programming Interface) and in no-code mode, displaying data directly from a dashboard.

With the start of the year, Fido will finalize its first partnership agreements, which will be communicated to the market soon.

Marko Maras, CEO of Fido, said:

“Fido is a complementary solution to traditional risk rating systems that, using alternative data sources and analysis models, effectively evaluates consumers in full respect of privacy. It is a service that can provide an important boost to digital retail distribution and is functional to the financial inclusion goals set by the United Nations”.

Founded by Marko Maras and Paolo Mardegan, Fido, completed the capital raising in 2020 (€1,1 milion) to accelerate the implementation of the development strategy. Investors include Giorgio Valaguzza (Ithaca Investments), Alessandro Fracassi (Gruppo MutuiOnline), Attilio Mazzili (Orrick), Fernando Spallanzani (Banca Privata Leasing), Giacomo Sella (Gruppo Sella), and IAG (Italian Angels for Growth).

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