New Delhi, June 27, 2020: CreditEnable, a transformational AI-driven Small and Medium-sized Enterprises (SME) credit business, today announced that it has partnered with Experian, one of India’s leading credit bureaus and data analytics and decisioning companies to offer lenders and SMEs with prospective borrowers’ personal and business credit scores. CreditEnable operates an entirely digital and curated marketplace for SME finance, effectively acting as a digital bridge between SME lenders and borrowers. The firm’s marketplace in India currently caters to more than 20 leading lenders with USD 70 billion of loan books.
CreditEnable’s technology platform instantaneously identifies the right lender with the right product for SME borrowers, assisting SME’s digitally to secure an appropriate loan. CreditEnable reduces the time and complication of applying for a business loan, with no impact on credit score, and at no cost to the borrower. SMEs also receive tips and help from CreditEnable on how to improve their credit profile, ultimately improving SMEs access to affordable finance. Working with CreditEnable, lenders spend their time underwriting loans that match their exact credit and risk parameters, reducing transactions costs, lowering risk, achieving better outcomes and a faster deployment of capital.
Commenting on the partnership, Nadia Sood, Global CEO and Founder of CreditEnable said, “We are delighted to be partnering with Experian to enhance our offerings to SMEs and Lenders in India. We will now be able to provide our SME customers with comprehensive services that will allow them to avail the best loan match along with a clear understanding of their credit score and how well they have been managing repayments on their existing debts. Lenders working with us will not only get access to match fit borrowers, but also access to the borrower’s repayment history. As one of the leading credit bureaus of India, Experian has a rich database and we are very pleased to partner with them in the SME credit space.”
Sathya Kalyanasundaram, Country Head & Managing Director, Experian India said “We are delighted to be partnering with CreditEnable to provide more SMEs in India with access to their credit scores. SMEs are a vital sector and help in contributing towards the growth of the Indian economy. As an engine of growth, SMEs are putting our country on a fast track of socio-economic improvement. Together with CreditEnable, we are committed to enabling financial inclusion by empowering businesses with greater access to finance. Our partnership will play an important role in accelerating access to affordable finance for the millions of SMEs upon whom our economy depends.”
Said Akbar Khan, CEO CreditEnable India, “Through CreditEnable and Experian’s combined efforts, SMEs now will receive deeper insight into their financial health as well as experience a more seamless process when applying for a loan.”
CreditEnable was recently named as one the ‘Most Influential Financial Technology Companies’ by Financial Technologist and one of the ‘top 50 firms in the world driving financial inclusion’ by Visa.
Corporate Comm India(CCI Newswire)
