Hello Soda launches tool that scans data and social posts to predict creditworthiness

Paul Shepherd of Coup Media and Hello Soda.

Paul Shepherd, founder and chief executive officer of Coup Media, has co-founded a new tech start-up, Hello Soda, to launch a software platform that predicts a person’s creditworthiness based on structured and unstructured data.

Founded by Shepherd and James Blake, formerly head of global sales at credit reference agency Call Credit, Manchester-based Hello Soda has developed the software – PROFILE - specifically for the lending, gaming and insurance sectors.

Shepherd said: “The software uses Bayesian Belief Network principles to analyse structured data such as the number of Facebook friends someone has, but also creates predictions from unstructured data like blog posts, tweets and interactions between people in social networks. It's all permission based, so people agree to connect their social profiles - we don't access social data without permission.

”It’s a competitive environment, but if there is one thing companies are increasingly concerned about it’s online fraud, so HelloSoda launches into a pretty fertile market. By the virtue of not being a lender ourselves, unlike our key competitors Kreditech and Zest Finance, we will be able to interact with any number of potential customers.”

Germany’s Kreditech last year raised a $40 million Series B funding round, the largest ever for a German financial services technology company and one of the largest rounds in Germany in 2014. ZestFinance has raised an estimated $112 million so far.

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