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Credit Health Report

Credit Health Report

Loans to individuals and businesses in India are approved based on a Credit Rating system. This is in addition to income or revenue, current levels of debt, and the manner in which any previous or present loans have or is being repaid.

To make the loan approval decision neutral and fair, a number of lending institutions in India are increasingly migrating to technology driven underwriting platforms that provide a computer generated profile assessment within a matter of minutes.

About CreditVidya

CreditVidya is a patent filed B2B SaaS platform that has pioneered the development and deployment of an alternative data credit underwriting engine. The platform is powered by Artificial Intelligence and data analytics that generates a more accurate credit profile for financial institutions, fintech companies, and e-commerce businesses in India.

Company Mission

CreditVidya operates its data credit underwriting engine to overcome disparity, therefore enabling fair access to affordable credit for all. The mission is to help the common man, both in rural, semi rural and urban locations in the country to gain a comprehensive understanding of the credit rating process and its impact on the loan approval system.

CreditVidya strongly believes in credit education to the people of our nation for everyone to have seamless access to credit facilities. Familiarisation with key concepts like types of available credit, credit behaviour, the importance of having a good credit portfolio, and creating an understanding of credit bureau reports is also part of the company’s overall mission.

How Does It Work

By leveraging emerging technologies like Big Data, and predictive analytics, CreditVidya processes semi and unstructured data for risk assessment on applicants for both salaried and self-employed segments. Using technology to automate the underwriting process through algorithm usage instead of human intervention ensures that underwriting decisions are quicker and less prone to errors or simply a victim of poor human assessment

The objective of using a technology driven platform is to use rich cash-flow and behavioural data in combination with bureau generated information to help loan approvals for more customers. This in turn significantly helps to control and minimise bad debt, thus leading to increased profitability.

Product Features

The key product features include:

  • Available in 10+ vernacular languages
  • Easy access to the report via, Email, SMS and hard copy
  • Simple analytical visualization of credit report
  • Simpler language addressing a larger mass population in the country to understand the report

Benefits to Customers

CreditVidya’s platform offers a host of benefits to customers. These include:

  • Easy interpretation of credit history
  • Tracks and monitors customer’s financial profile
  • Offers expert recommendations on how to maintain a good credit history
  • Propagates easy understanding of the key credit report related parameters
  • Easy access to get the queries address, if any, in understanding the report
  • Shares a list of ‘Do’s & Don’ts’ to help customers maintain good credit profiles
  • Help customers to be on top of their finances

FULLERTON INDIA HOME FINANCE CO. LTD (GRIHASHAKTI) offers a credit health report from CreditVidya to all interested customers. For more details, please contact your nearest Fullerton Grihashakti branch.

Disclaimer:

Insurance is the subject matter of the solicitation. Insurance and/or any Third Party Products (TPP) are not mandatory for the purpose of application and disbursement of the loan. It shall be at the sole discretion of the customer to avail any such insurance and/or any Third Party Products along with the loan.

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