ML can be used to build new models and analyze the above data to determine which consumers are safe for lending money. CRIF’s Big Data Analytics is a platform that enables lenders to leverage data and predictive analytics models to make critical lending decisions and develop their own application scorecard, behavioral scorecard, and collection scorecard. The predictive models use the existing data to extract information and predict future outcomes. Advanced credit risk analytics is a key component and integrated part of many of CRIF’s offerings including the credit management platform products like StrategyOne and other services. These tools can help save costs and enable faster response to allow consistent credit risk management.
Just like there is personal credit score for an individual, a business entity’s creditworthiness is found using commercial credit score. Here’s how CRIF commercial credit score works
CRIF high mark, one of the leading credit bureaus, has released the ‘CRIF CreditScape: Credit Cards’, to dive deep into trends and analysis for insights of the overall credit system in India with data points until December 2019.
The COVID-19 pandemic has wreaked havoc on the world economy. Although the lockdown regulations are being relaxed gradually opening the market, not all businesses have picked up the pace yet. In fact, there are chances that many businesses might need cash flow to survive further. In such a case, maintaining a good credit score for your business is very important. When you apply for a business loan, lenders go through the credit report and credit score of your business. If your business has a good credit score, you are almost halfway through to getting approval for a business loan while a bad credit score can affect your loan eligibility. In this article, we will talk about how you can protect your Business credit report & credit score to ensure it survives the COVID-19 pandemic.
Home Loan Application: How to Improve the Chances of Approval. Defaulted on Loans? Follow These Steps to Get out of a Debt Trap and other articles. Low credit utilization is attractive to the lenders and it positively impacts your score. On the other hand, a high credit utilization, categorizes you as a risky borrower to the pool of lenders.
