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Unique technology based credit profiling methods that are enabling new age lenders to disburse keeping their NPAs low?

Published on April 19, 2019

Unsecured lending to MSMEs has seen a spike in the recent past. Aided by the entry of lending platforms, this segment has got new found interest. One of the commonly used measures to understand the lending performance is Non Performing Assets (NPA). It is evident that with new age lenders, credit profiling of a potential borrower is very much technology based. Algorithms, machine learning and innovative assessment methods are enabling informed lending at fintech and resulting in lower NPAs or credit loss. This indeed is a major observation behind holistic growth of the industry. A lot of platforms have successfully adopted unique credit assessment methods that is resulting in growth.

CoinTribe

CoinTribe is a leading online loan disbursement platform that provides quick and easy collateral-free loans to small businesses and individuals. It is the only online lending platform which has back-tested its credit model with large banks. The marketplace model facilitates loan origination and credit assessment through CoinTribe before it is shared with the banks. PaaS enables banks and NBFCs to utilize CoinTribe’s platform for effective risk analysis and recommendations to digitally underwrite their own consumers. CoinTribe’s PaaS is equipping lenders across the country to become digital ready and enhance efficiency of their lending process.

Aye Finance

Aye Finance is one such commercial institution built around the mission to solve these challenges of funding MSMEs and enabling their inclusion into the mainstream of the economy. Aye Finance differentiates itself by creating a technically enabled process that builds credit insights through a variety of available business and behavioral data. This effective credit appraisal coupled with the use of modern workflow automation, and a small but engaged workforce is helping bridge the gap between the MSMEs and organized lending.

Satya MicroCapital
Satya MicroCapital is an NBFC-MFI serving low-income entrepreneurs in India’s rural and urban areas. The firm provides prompt, convenient, and affordable collateral-free credit to unbanked and underserved people through a strong credit assessment and centralized approval system.

Happy

Happy assess over 1000 variables about the merchant to underwrite his micro business. Its credit model is based on the merchant’s level of business engagement with the partner, his behaviour towards borrowing, APIs, demographics & business trends. If the merchant is doing healthy business with the partner, he is likely to get a big credit line from Happy Loans. Promising a unique borrowing experience to Indians, Happy Loans provides customized loan offerings to micro enterprise owners to meet their specific demands. It even offers micro business loans that start at as low as Rs. 2,000 for durations as short as 30 days.

MoneyTap

MoneyTap is India’s first app-based consumer credit line. The “Credit Line” means that the bank will issue a limit of up to Rs. 5 Lakh, without any collateral or charging any interest. Against this limit, using the MoneyTap app, consumers can borrow as little as Rs. 3,000 or as much as Rs. 5 Lakh and repay it as EMIs from 2 months to 3 years. The app securely connects with the banking systems to give them not only an instant approval but also a credit limit, depending on individual credit history with real-time data from CIBIL. The technology enables MoneyTap to provide instant decision and instant access to money – 24/7, irrespective of holidays.