- Advanced scoring formula ensures better risk prediction
- Also provides a score for borrowers with less than 6 months credit history
- Drives inclusive financing for many more eligible borrowers thus improving credit penetration
Credit Information Bureau (India) Limited (CIBIL) and TransUnion announced the launch of the latest version of the credit score – CIBIL TransUnion Score 2.0. This new scoring model has been developed keeping in mind the changes seen in the borrowing behavior of consumers and the evolving market landscape. This advanced scoring model will enable credit institutions to predict risks more powerfully and make confident lending decisions, which in turn will help improve asset quality and credit penetration.
“CIBIL TransUnion Score 2.0 predicts risk more powerfully as this scoring model has been customized for the changing Indian market and consumer behavior,” said Mr. Arun Thukral, Managing Director, CIBIL. “This scoring model will enable banks to better identify good customers, thereby enabling them to provide credit to more consumers and increase credit penetration and financial inclusion in the country.”
Source: TransUnion Press Release