Antock, a startup that developed a solution that can accurately evaluate corporate credit using corporate alternative data (Alternative Data), won the Grand Prize (Finance Chairman's Award) at the Finance Committee's 'D-Test Bed' on the 18th.
D-testbed is a business that provides a test environment for fintech startups and prospective founders to verify the business performance of innovative technologies and ideas. After recruitment in August of last year, 31 teams were selected, and 6 teams, including Antock, were selected as the final winners after 12 weeks of testing business performance and feasibility.
Antock, which received the award, developed an alternative credit evaluation system that can detect corporate risk occurrence signals in a timely manner by combining corporate public data with loan delinquency information without financial data.
According to Antock, the evaluation model of existing credit reporting companies is based on traditional financial data such as finance, so it is less discriminating when applied to small and medium-sized enterprises with poor financial performance. In fact, according to the credit rating distribution table of domestic companies based on the existing credit evaluation model, more than 90% of companies flock to B to BB ratings. Also, most of them use historical data, such as financial and disclosure information, which is generated on an annual basis, and timeliness is low.
On the other hand, Antock's alternative credit evaluation system analyzes and tracks 300 types of public data in 12 major areas by more than 1 million domestic companies. It is an evaluation that increases the accuracy and permanence of the evaluation by automatically analyzing and tracking data on a monthly basis based on the time, frequency, and scale of the data.
Antock's alternative credit evaluation technology obtained a “TI-2” rating corresponding to “very excellent” in the investment technology credit evaluation conducted by E-Credible last year. Performance verification (PoC) was carried out with IBK Corporate Bank, which led to the signing of a data supply contract.
Park Young-joon, director of Antock, who is in charge of the alternative credit evaluation business, said, “It was an opportunity to confirm the precision of an alternative credit evaluation model based on non-financial data through a test bed,” and “we will do our part to contribute to the development of a healthy capital market where all small and medium-sized enterprises enjoy credit services that meet the competitiveness and risk level of actual companies.”
Reporter Ko Seok-yong (gohsyng@mt.co.kr)
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