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Square Capital Integrates with Credit Bureau for Simplifying Online Lending

Square Capital, mortgage advisory platform of India’s largest real estate transaction advisory Square Yards, announced that it has integrated its systems with a major credit reporting bureau¹ to provide free credit information to clients and help them in speedy disbursals of loans.

Square Capital facilitates loan disbursals of around Rs. 150 Crores per month and it has registered its name among top 3 loan distributors in India by value of loans disbursed. Square Capital’s mortgage advisory has been one of the fastest growing and the most profitable business for Square Yards and the company is on target to achieve a triple digit revenue growth for the mortgage advisory business.

“Square Capital has grown on the back of strong technological innovation and enhanced customer experience. There has been a lot of awareness in recent times about credit scores and clients now understand its significance. By offering a free credit report we want to spread further the knowledge of credit scores and underscore its significance to our clients,” said Indrajit Sidhanta, Principal Partner & Business Head, Square Capital.

Square Capital technology team is currently working on an integrated tech platform that will take the entire end to end cycle of mortgage lending to an online platform – from customer query, product policy check, credit decision making, eKYC check, online applications, all integrated with bank’s backend system and right through disbursal of loans. As India is progressing towards a digitally enabled economy, a major part of lending and loan disbursal process will move online. The home loan mortgages business in India is ripe for disruption by a true end to end technology services aggregator like Square Capital that can handle the entire customer journey from search & discovery to fulfillment and post transaction services.

Source: businesswire India

¹Editorial Note:  The name of the credit bureau was not disclosed

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