For people without a formal credit score, like students and migrants, getting access to a credit card or loan can be a big issue -- something this credit scoring service is trying to address. Startup Aire gives those in the 'thin line' category a fairer credit rating based on the data they submit themselves. By not focusing on past repayment history, Aire is able to help customers get access to important financial products.
In the United States and UK, 25% of adults fall into this category. After they submit their information, Aire's API encrypts and processes the data using an algorithm to look at their employment background, decision-making and cognitive abilities to decide whether they are fit for financial services including credit cards, loans and mortgages.
Aire is currently in beta.