CreditVidya is a technology startup that operates in financial services. Co-founded by Abhishek Agarwal and Rajiv Raj, CreditVidya is a Mumbai- based financial technology startup. The startup came to an ultra light when it announced a raise of $2 million. It was a Series A funding from the Kalari Capital.
CreditVidya harnesses the power of big data with advanced machine learning techniques to re-imagine and re-build credit scoring. The team behind this amazing startup uses technology with the richest data sources. Also, advanced technologies with superior statistical methods here increase the overall profitability of the business.
The company serves banks and non- banking financial institutions. The firms that include are- Bajaj Finserv, Fullerton India, Tata Capital, IDFC Bank and Shriram Housing Finance. The team proudly states that their big data platform efficiently leverages over 10,000 plus such unique digital data points to access the creditworthiness of a potential borrower. CreditVidya works very closely with their lending partners in the process of developing customized scorecards for their respective product offering.
With the recent big win of $2 million, the CreditVidya team is highly motivated to work with double the enthusiasm for the future endeavors. The team is looking forward to investing this money into the firm for bulking the technology and the data science team. The team believes in building products that aligns to the customer requirements.
CreditVidya was founded in the year 2013 and is a B2B platform. This firm helps lenders to make critical decisions based on credit scores assigned to new-to-credit and thin file customers. CreditVidya leverages new traditional data sources for this task. These new traditional data sources can be behavioral (pending payments or categories of fees) transactional (through e-commerce spends) or through social networks based on their permission.
The essential activity of the firm is to generate credit scores for their customers. Every information presented by CreditVidya relies on customer’s requirements. Also, with their industries. The card they make has a customized list of variables. These variables assist the borrower in his or her ability to make payments. Also helping their stability as well as regarding the intent of the customers.
The Bottom Line
With the rapid change in technology in the field of banking and finances, CreditVidya is working its best to offer top quality services. This, in turn, is helping business and their respective clients. Many similar firms such as CreditWatch are working on similar lines in this field. Such companies provide quick and efficient data to financial institutions with different sources.