Zavron Finserv Leading NBFC | Fintech | India

Better and efficient lending demands a proper, error-free credit assessment. The credit assessment depends on a number of factors including the type of loan , credit score, financial health, repayment capacity and documentation. All of this requires a close look and an error-free procedure for further acceleration. Over the years, the traditional credit scoring has seen a shift and lenders are turning to technology to automate their processes and its related decisions. With consumers expecting the credit evaluation and loan application process in real time, fintech and banks turned to digitization. In this article, we will have a close look at what is credit assessment and how it has changed over the years in contrast to traditional credit assessment process. What is credit assessment? Credit assessment or credit analysis as it is popularly known is a method to check the creditworthiness of the borrower (an individual or a company). This process involves the overall assessment o

Digital Credit System is taking on the credit and lending ecosystem by the storm. There has been a surge of startups and enterprises working across the nations to make the credit system smooth and efficient for its consumers. The response to digitalization of the credit ecosystem has been unprecedented too. Consumers are shedding old practices and getting into the new habit of registering, applying, uploading documents and waiting on approval for their Instant Personal loan through their laptops and smart-phones. These efficient processes have been only possible by the never-ending evolution of Fintech that innovate using technologies such as cloud services, Artificial intelligence and Machine Learning.   As the fintechs deal with sensitive financial data of its consumers on a daily basis, the concern around its safety and security becomes imperative. We will discuss the methods fintech uses to secure credit and financial information of its consumers while delivering their ace servi