How non-traditional credit scoring can help you overcome denial of loan

How non-traditional credit scoring can help you overcome denial of loan

Using multiple digital data sources with advanced machine learning algorithms provides a unique opportunity for the under-served yet creditworthy population to have access to credit for the first time. Nearly 80 per cent of India’s population does not have a credit record, and as a result they don’t have access to a full range of financial services. There is a pressing need for financial institutions to have better and more diverse information to assess credit worthiness and to be able to grant first time credit to this underserved and unserved population. At the same time individuals generate vast amounts of digital data as they go about their day to day lives online. If well informed, they can be empowered to provide permission to use this data to access credit and…


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