To all financial transactions and payment acceptors from the general practitioner which we attend to the kindergarten our children go to. Base on this data the company calculates whether users are managing their spending correctly using a machine learning algorithm calle FinScore. Fintonic touts FinScore as an unbiase and independent index that measures how well we are with our money. When we contacte Fintonic via email and aske how this automate rating system works they told us that the decisions are the result of a process of analyzing the information Fintonic knows about users base on their personal.
See GPDR terms and conditions
Profile and transaction history source exchange messages between the Fintonic representative and the research team. The company did not provide further information about this. On their webpage they mention variables that the algorithm takes into account Bahamas WhatsApp Number List including income level and frequency net balance bounce checks or creit history whether the person applie for a loan repaid it etc If the user wants to contact a bank that cooperates with Fintonic his assessment will to the financial institution which will decide whether to approve a loan or other creit product. It is assume that financial scoring is update at the beginning of each month.
That we spend be transmitte
At one point users state that the automatic score remaine unchange despite the fact that their account balance had change in the direction of increasing income and decreasing expenses I have been using the service for several months now and the FinScore has not change Bahamas Phone Number List although it should have . because my expenses have been changing . and I havent spent much money in recent months. According to Fintonics statement from our email communications with the company the user information their algorithm generates is only share with other companies with user consent meaning they allegely ask users when.
