Let us introduce to you James, a Singaporean who lives and works in the city as a freelance copywriter. James isn't a real person, but he is in a real situation. He’s an amalgamation of people we’ve met over the years, and someone Dobin was built to help.

James is a pretty average guy: he lives with his mom and dad at home still, and pays them a small rent every month to help out. He has a slightly above average income, earning S$6,283 a month on average throughout 2022. 2023 is looking to be the same, but some months he earns more than others. In fact, in November last year he made his highest ever month, bringing in S$12,347. It equalled out though, because in June he went on holiday and only brought in a S$1000 retainer.

For his job, James has the latest tech and probably spends S$6000 a year on his laptop, getting a new phone and new gaming gadgets. As well as his bank account, he keeps a balance in his Payoneer account and on PayPal. He’s been building a crypto portfolio too for the last five years, and has an emergency buffer in his childhood savings account. He uses e-wallets to make purchases when he’s out and about, and loves shopping online.

Like most Singaporeans we know, he’s also a great son, and a diligent citizen: he works hard and is a good writer who loves what he does.

The trouble for James is that all this isn’t enough to help him get established financially.

James's Dilemma

When James wanted to buy a car, he ran into difficulties. We all know how expensive buying a car is in Singapore! But he wanted to help his mom out with groceries, plus it’s always been his dream. He went to the bank to ask for a loan.

He was denied.

You see James, despite his good salary and hard-working mindset, has a risky financial profile. The banks view James through a traditional lens: he has no fixed income, no employment contract and no large assets he could use to guarantee a loan. Plus, James has no credit history because he has been unable to borrow money before.

All of this makes James a bad choice for banks to lend money to, as they see him as a risk. But the reality is that James is not a risk: he’s a skilled, reliable worker who earns an above average salary. He should be a customer banks want to serve.

Introducing Dobin: Unlocking Your Financial Data

When it comes down to it, James doesn’t have a problem with his finances. He has a problem with the data that he shows to banks. They see the risks with James’ financial profile, but they don’t have the data to see the benefits.

If they had the full picture, financial service providers would be able to see that James is the kind of customer they want. With high earnings, a high likelihood of making large purchases and hidden assets stored in his crypto and digital wallets, he’s in a pretty good position financially. He can certainly afford to make the payments that his loan requires.

With Dobin, when James goes for a loan all of this hidden data can be presented. James simply connects his financial apps to Dobin, which then takes this data and presents it to the loan company on his behalf. Now the companies can see how valuable James is, it’s up to them to bid for his business! James is back in control.

It’s not just loans that Dobin can do this for. Using your financial data, Dobin can present your value to your favorite stores so they can reward you with offers for being a loyal customer. Dobin can use your data to give you access to credit cards that offer rewards tailored to your personal spreading habits. Whatever you need, your data can be used to prove your worth to financial institutions, and put the power back in your hands.

Download Dobin to discover how it can help you unlock the value of your data.