Credit Rating in simple words is a scale that measures the ability of an individual or a business entity to repay funds borrowed by them. This is another factor in addition to revenue, income and how existing or previous loans are or have been repaid.
To simplify the loan approval procedure and to eliminate the chance of human bias, a significant number of lending institutions are migrating to technology-driven underwriting platforms that require minimum human intervention and provide systems generated profile assessments within no time.
Credit Health Report is a simplified analytical visualization of a Credit Bureau Report. It provides detailed insights into a customer’s credit history and purchase behaviour, along with recommendations on how to improve their credit scores. The report also highlights the customer’s behaviour on each important parameter, helping them to understand the importance of maintaining a good credit history.
CreditVidya is a patent filed B2B SaaS platform that has spearheaded the development and deployment of an automated data credit underwriting engine. The platform, powered by Artificial Intelligence and data analytics reduces the chance of human error, generating accurate credit profiles for companies including financial institutions, e-commerce businesses and fintech companies based in India.
The key objective of operating this data credit underwriting engine is to help overcome inequalities and help all income groups gain access to fair credit. CreditVidya aims to empower the general population with an understanding of the credit rating system and how it impacts the entire loan approval system.
We firmly believe that education is the primary step in enabling the people of our nation to gain access to credit when required. One of our key objectives is to educate people about key concepts like different types of credit, the importance of maintaining a good credit portfolio, credit behaviour, etc.
We capitalise on technologies like Big Data and predictive analytics to process raw and unstructured data to assess the risk profile of our potential customers. Our automated platform rapidly analyses different internal and external data to facilitate loan approvals for more customers. Making data-backed decisions helps in preventing and reducing debt, thereby increasing profits.
The highlights of the product include:
All customers opting for this product are required to sign a no-force declaration. Please see below the same.
I/We understand that the insurance and/or any third party products are not mandatory for the purpose of application and disbursement of the loan hereunder. It shall be my/our sole discretion to avail such insurance and/or any third party products along with the loan.
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