openfinanceafrica/scoreapi

Payment Score API - Standardizing credit scoring in Africa and beyond ### 🚨 UPDATE: This respository is no longer actively maintained. The code can still be modified and used as a library since the API (and website) is not currently available. # Payment Score API This project contains source code and supporting files for the Open Finance Africa Payment Score API. The API is available for consumption at *https//api.openfinance.africa* and its reference is here. Although the current functionality could have been bundled and utilized as a library, the current plan is to examine its application as an API and, over time, expand it to incorporate data sources where a library would not be suitable. ## How it works TL;DR: Head over to the simulator to see how the scoring works. A credit score usually takes several factors into account. These factors range from previous loan repayment behavior, down to an individuals age. Banks and credit bureaus (CRBs) already have the ability to aggregate this data and use it to evaluate loans terms for example. But accessing standardized *external* payment data, easily accessible via API is what this project is about. For now, the code in this repo simply calculates a payment score. And this score can be used as a datapoint among the factors that lenders (or other financial institutions) may use to determine an individuals creditworthiness. Banks and credit bureaus aren't the only entities that can find this useful. If you're a business that wants to keep track of payment behaviour, this is for you! E.g. if you're a property management company that want's to keep track of rent payment behavior. ### Input Values To get a score, you'll need the following: 1. **Payment terms:** This includes a start/end date, the day of the month a payment is expected, and the amount expected. For example, a tenant may have a lease which starts on Jan 1 2024 (start) to Dec 31 2024 (end) and expected payment date of the 5th. 2. **Payment history:**: This is a list of payments that have been made by the individual get …