TransUnion CIBIL launches CreditVision® to enable banks to expand access to credit to many more consumers

Mumbai, 31 May, 2017: As the consumer credit industry continues to grow with increased demand fueled by the digital transformation in the market, TransUnion CIBIL today launched CreditVision^® to expand the eligible consumer base and drive access to finance for many more deserving consumers. CreditVision^® is a transformational way of looking at the past credit behavior of a consumer. CreditVision^® algorithms predict risk and expand credit opportunities by intensively studying the trended data that unlocks the patterns in payment, exposure and spend behavior. These algorithms, which are based on the past 36 months of trended data, enable identification of comprehensive and specific customer behavior and are delivered in an easily usable and quantitative format to enable financial institutions to use these customer insights for making more precise lending decisions. This would pave way for possibilities to expand the retail credit market and promote access to cheaper, easier and faster credit opportunities, which is a major aspect of financial inclusion in this digital age.

TransUnion CIBIL’s analysis of consumer credit demand and behavior using CreditVision^®, shows that it could enable credit access to an incremental 15 lakh borrowers every year without compromising on risk. In addition, the algorithms have identified another 20 lakh borrowers who currently have access to banking credit, but would be eligible for higher lines of credit or higher loan-to-value.