back to article Grab – Asia's Uber – knows customers and drivers so well it can vet them for loans

Southeast Asia's Uber-clone turned superapp, Grab, collects so much data about its customers and drivers that it can rate their suitability for a loan – and is already a significant lender to its drivers. Grab started life as a rideshare operator and did so well that Uber quit some Asian operations and acquired a chunk of Grab …

  1. Anonymous Coward
    Anonymous Coward

    Nomen omen

    Well, given the company name, one can't say they weren't upfront about it...

    1. thejoelr

      Re: Nomen omen

      They're surprisingly candid about the depth of data they capture, but it is an insight into the kinds of things other companies do and don't talk about.

  2. TeeCee Gold badge

    KYC compliance.

    "But we don't know our customers at all, we just know everything there is to know about them."

    They may have found a loophole that means they're obeying the letter of the law, but they're shitting all over the spirit of it.

  3. MachDiamond Silver badge

    Bronze handcuffs

    I immediately heard the lyric “Saint Peter, don’t you call me ‘cause I can’t go; I owe my soul to the company store.”

    I can envision how the company could put those people in handcuffs with a loan bigger than they can honestly afford, but not so big that they won't knock themselves out trying to pay back. There could also be a clause that if they leave the company or reduce their hours, the loan for that scooter with all of the accessories is due immediately or at an accelerated rate. They wouldn't be able to take that scooter to another job where they might make more money while enjoying a pretty good rate on the loan.

    The whole setup is frightening. It's also nothing new.

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