In a first, MFI customers to be given credit scores
Monday, December 9, 2013
For the first time in India, a credit bureau is offering scores to help understand the credit profile of microfinance customers.
Launched by Equifax Credit Information Services, a credit information company, the product is called Equifax MFI Risk Score.
Through this product, a microfinance institution that is a member of ECIS, can obtain credit reports of its customers.
By scoring their customers, MFIs will be able to understand the credit profile of borrowers more holistically, which will help them align their products and services accordingly, Sanjay Patel, Managing Director and CEO, Equifax India toldBusiness Line.