Frequently Asked Questions
Lender FAQs
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ADMiT uses comprehensive Consumer Data and psychometric-based scoring tools to evaluate applicants. The DRA™ Situational Judgement Assessment measures 75 key metrics, including on-screen behaviour, to create a comprehensive risk profile, enabling you to identify reliable borrowers who might lack a traditional financial history.
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The DRA™ Score has a Gini coefficient of .32, indicating a strong ability to predict defaults. When combined with traditional credit scores, it enhances risk assessment accuracy by 18%, significantly reducing bad lending rates by 7%.
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Yes our research indicates that incorporating the ADMiT solution into your lending decisions could improve acceptance rates by 12%. This allows you to extend credit to more applicants who demonstrate reliable behavioural credit risk profiles.
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Yes, the DRA™ Score is approved by the National Credit Regulator (NCR) of South Africa as a viable scoring solution for assessing credit risk, particularly for the unbanked and credit-unaware populations.
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Our partnership with 6DOT50 enables lenders to extend voucher-based credit to consumers and provides consumers with a digital way to make repayments via mobile and informal channels. This integration allows you to tap into the unbanked market efficiently, reaching a broader customer base without the need for traditional banking infrastructure.
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Yes, provided that you have engaged with the consumer directly and obtained their permission to access their score from ADMiT.
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Our campaigns are designed to help you incentivise consumers who may have already applied for a product and you were unable to accept them as a customer. By sending the consumer an invitation to complete their ADMiT profile and incentivising them to do so, you will enjoy exclusive access to their score for a period of 5 days.
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No. You can register as a Principa Client and access ADMiT on a pay per use basis. If you do not use the platform to access any services there is no fee applicable.
Consumer FAQs
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ADMiT is an alternative credit scoring solution that helps you build a risk profile that you can share with any provider of service. Your ADMiT profile does not rely on traditional credit score data and you do not need to own a bank account to get a score.
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You can complete your profile online through our platform. Simply JOIN ADMiT, answer a few questions, and complete one of our assessments to get a score. The assessment is a quick and straightforward process that will take you 5 minutes to complete.
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That’s where ADMiT comes in. Our scoring tool is specifically designed for individuals who lack traditional credit scores. By completing your profile, you can get one step closer to credit.
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You can begin transacting and building a transaction history without the need for or cost of a bank account. Setting up a 6DOT50 account allows you to receive vouchers as loans and make repayments via a voucher-based system, making it easier to access credit and manage your finances.
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Absolutely. We prioritise your privacy and the security of your information. The assessment is conducted securely, and your data is used solely to help generate your score.
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Yes, ADMiT is designed to improve your chances of getting a loan but this will only apply if your score is good. Lenders that you engage with may request access to your score and using your score should open doors to credit opportunities previously unavailable to you due to a lack of financial history.
Join the financial inclusion revolution with ADMiT and open doors to the credit you deserve. If you have any more questions, feel free to contact us!
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Get your ADMiT score today to open the doors to your financial freedom!