Heavy Loan Borrowers / Spenders – Beware Experian Analytics Tools Monitoring You

Loan-Borrowers-IndiaExperian India is gradually unveiling its Global Tools and Analytical Services to Indian customers [Banks & FIs] Apart from Serving Credit Reports and Scores, they are now offering Value Added Services which covers Frauds and Consumers on the verge of Default.

Experian has rolled out tools that track consumers borrowing / spending heavily or acting credit hungry. The trigger will alert the lender and help him manage his portfolio risk. This is essential because the customer maybe in sound position while availing the Loan / Credit facility but it may change overtime and this is captured by the Experian’s Analytics tools.

Mr. Jayram of Experian said,

By receiving regular alerts about change to consumers personal / financial situation, Banks and Financial Institutions can take immediate action and create individual customer strategies to manage risks and bad debts.

Experian works closely with the banks and based on Bank’s requirements and place the triggers on – Change in Account Status [Improve or Worsen], Significant Balance changes on Revolving Credit Accounts, Opening of New Account, Missed Payments on EMIs, Exceeding Credit Limits on Credit Cards, etc

Like, CIBIL, Experian faces the same Challenge – maintaining the Quality of Consumer Data in the repository. This should come as a boon for well behaved and better managed consumers who will get attractive rate of interest because of their responsible credit standing.

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