Partner Spotlight: Bloom and Access Network, bringing financial access to global markets
By: José V. Fernández
Tags: Bitcoin, Cryptocurrency, Africa, Fintech, Ethereum

We believe in a fair and more transparent ecosystem that includes financial access for all. Yet, due to the challenges of under-developed ecosystems and the inefficiencies of legacy systems, millions around the world are still unable to tap into core financial services that perform critical functions in supporting upward mobility.

Thus, Bloom and Access Network are very excited to share with you today our partnership which will be bringing Bloom to participants in West Africa. We are tackling the challenges faced by the underserved, united by our shared mission of bringing financial access to people around the world.

Introducing Bloom

Built on Ethereum and IPFS, Bloom brings credit to the modern age, developing an end-to-end protocol for identity verification, risk assessment and credit scoring, entirely on the blockchain. Bloom is a standardized, programmable ecosystem to facilitate on-demand, secure, and global access to credit services. Bloom offers solutions to cross-border credit scoring and identity fraud while at the same time expanding credit globally to 3 billion new individuals and improving scoring methodology for all 7 billion people. Bloom is not a provider of loans. Bloom is a platform to migrate all lenders to the Blockchain. From mortgage providers to local credit unions, lenders across the globe will be able to tap into a far more comprehensive credit database and expand their market to three billion new borrowers.

Bloom: say hello to inclusive credit

“The credit problem involves a market that is incredibly unequal and blatantly opaque. We are excited to partner with Access Network to bring the future of credit to those who need it most,” shares Jesse Leimgruber.

Bloom + Access Network

Bloom and Access Network both share a vision of credit as a human right and the need for transparency around these new economic models. This synergistic partnership will give West African borrowers access to loans on the Bloom lender marketplace.

“ Bloom is a natural partner to Access Network. Atlas Money succeeded in bringing branchless community banking to the unbanked in West Africa, Access Network is working on widening the offer to our clients far beyond basic banking and, with Bloom’s collaboration, we hope to bring our clients digitized identities as it drives the lending marketplace,” shares Mickey Costa, CEO of Access Network.

An Atlas Money agent bringing banking to a rural Senegalese market.

Bloom offers solutions to cross-border credit scoring and identity fraud while at the same time expanding credit globally to new individuals and improving scoring methodology for everyone. From mortgage providers to local credit unions, lenders across the globe will be able to tap into a comprehensive credit database and expand their market to new borrowers.

Access Network and Bloom are working together to digitize borrowers’ identities, helping the unbanked to build a robust credit score and earn better lending rates over time. They will support their users in creating BloomIDs, enabling each person to build a globally federated identity on the blockchain. Over time, those in underserved communities who previously haven’t had a chance will be able to build up their BloomScore. Additionally, Access Network participants will be able to apply for loans on Bloom’s loan marketplace which supported by a variety of lenders.

Stay tuned for more updates on this front over the next few months! We are excited to be working together to enable greater financial access across global markets.

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