TransUnion Cibil which is an India’s oldest credit assessment company, has launched an eligibility score for new to credit customers, who have never taken an loan Or have used credit card. Customers who were new to the assess credit, which makes historically difficult to assess because they have no formal credit history though lenders were cautious to provide loans as there was no way to access their probability.
TransUnion Cibils new scoring model called Credit Vision will use an algorithm to continuously monitor behavioural trends of subjects to capture any major shifts in trends, making it easier for lenders to access their credit risk for such borrowers who are young and not debt averse. A recent analysis made by the new to credit customers between January 2019 to January 2021, shows that the most of the customers were looking for the loans on two wheelers which were also follows consumer durable loans and home loans.
Majority of India’s population is under 40 years of age . The analysis clearly shows that if credit opportunities were provided to them, so that NTC consumers can prove to be good borrowers and form a profitable customers said Rajesh Kumar CEO TransUnion Cibils.