Three bankers have started a portal to assist customers and lenders to make better credit decisions in short durations.
A customer is entitled to get loan, only when he gets a CIBIL credit score of 750 and above. Over the last few months, the entire exercise has proved to be hassle-free method for customers as they need not have to run from pillar-to-post to get loan, while for banks and institutions, the data is provided about the client by a reliable source.
Called CreditMantri Finserve Pvt. Ltd., the Chennai-based company offers credit management services to its customers free-of-cost by carrying out an in-depth credit analysis report to ascertain their credit worthiness.
Prior to profiling the customers, the portal takes permission to access their credit history for over 36 months that includes studying the payment behaviour pattern of individuals regarding his credit card dues, EMIs for housing, car or consumer durable loans and or pre-closure of other loans.
Having seen the financial plight of customer’s from the other end, Ranjit Punja, R. Sudarshan and Gowri Mukherjee decided to help them by setting up a firm that would act as a bridge between the two.
Talking to The Hindu, CreditMantri CEO, Ranjit Punja said: “We have categorised clients into three groups, those who do not have adequate credit score, those who have no credit score and those who have credit score. We are targeting the first two sectors as they need help and do not know, and whom to approach when they want a loan or which bank to approach. We are providing credit management services to them at free-of-cost. Even an individual can log into our website and get credit score.”
CreditMantri started offering credit score free-of-cost to loan seekers since June 8. In the last one month, 15,000 people have visited the portal.
“Our proposition is to improve the credit health of individuals. We track their portfolios and advice them, how to improve their credit score or resolve their past issues. All these services are done using data and digital medium. We are also willing to join hands with CIBIL to build digital data base,” said Ms. Mukherjee.
(This article first appeared in The Hindu on July 12, 2015)