Experian, one of India’s leading data, analytics and decisioning companies and credit bureaus, has developed multiple resources and services to help businesses and consumers across the country during the COVID-19 pandemic.
Sathya Kalyanasundaram, Country Head and Managing Director, Experian India, says: “At Experian, we are committed to helping the Banking, Financial Services and Insurance (BFSI) industry, businesses and consumers across India. The pandemic has led to a large increase in consumers going online, which has led to a potential rise in fraud. Experian is providing complimentary resources for consumers to monitor and protect their financial health. We have also introduced solutions that will empower businesses to be resilient whilst ensuring continuity during these challenging times.”
Experian is supporting consumers and businesses in India with these resources:
Free credit reports for consumers on Experian India’s website: The Reserve Bank of India (RBI) recently announced a moratorium for all borrowers on repayment of all term loans, including credit card dues, from March 1st till August 31st, 2020. Experian India is helping consumers manage their financial anxiety by offering free credit reports on its website. As mandated by RBI, credit bureaus offer consumers access to one free credit report every year; however, Experian is now providing free credit reports throughout the year. This means consumers can access their Experian credit report from www.experian.in every month to track their credit score for free.
Power Cube: Power Cube is a business intelligence platform that makes credit bureau data more accessible, understandable and insightful for businesses. The platform provides in-depth information for analysing the retail and commercial lending markets and the flexibility to look at sub-segments and geo-analytics trends based on user objectives. In these challenging times, the platform caters to the need of increased market intelligence and risk calibration. Power Cube enables better estimates of loss rates and prioritisation of portfolio actions. It has also enabled speedy realignment in acquisition and distribution strategy by identifying new zones with high credit opportunities.