Crif Highmark ties up with CreditVidya

Industry:    2019-03-07

Credit bureau Crif Highmark and data analytics firm CreditVidya have tied up to help lenders provide credit to borrowers who have been underserved or are new to credit and do not have a credit history

The partnership between CRIF High Mark and CreditVidya envisages value added reports even if a customer has taken a loan or a credit card in the past. “In addition to customer’s past data, (if it is there) we get additional data via digital footprints and we combine both of these data and then give out report to the lenders who can decide on whether to give loans or not” ” said Abhishek Agarwal, CEO and co-founder, CreditVidya.” The way to think about is that if a large bank or NBFC is able to give out credit to the first-time borrower they are able to do it at a much affordable rate”

CRIF Highmark has stronger presence in micro-finance space according to market experts where credit history is perceived to be inadequate. “Wherever there is a credit history which is available we are going to give that credit history in a comprehensive manner and along with CreditVidya will work on the alternate data so that the lender has the comprehensive view,” said Kalpana Pandey, MD and CEO, CRIF Highmark.

CRIF Highmark has almost 1.6 billion records and covers the entire Indian borrower segment. Its technology to build the database and analytics is built in India for India related data complexity, according to Pandey. CreditVidya estimates that the first-time borrower segment to be roughly around 350 million.

print
Source: