Six moneylenders with unique business models issued new licences

Singapore

IF SOMEONE cuts into your queue at the cashier in a supermarket, what would you do?

Answers to psychometric questions like this will help moneylender Minterest predict a borrower's behaviour, assess the risk in offering them a loan without collateral - and maybe even slash their interest rate by half.

The firm is one of six which will be issued new moneylending licences next year to pilot their own unique business models, the Ministry of Law (MinLaw) announced on Tuesday.

It is the first time in six years that MinLaw is issuing new moneylending licences since a moratorium was…