TransUnion CIBIL is poised for a giant leap – from the individual to the institutional. Beyond its ostensible role as a credible gatekeeper for credit worthiness, the company is establishing its credentials as a marketplace for loans, emerging as competition to aggregators Bankbazaar and Paisabazaar.
Credit Information Bureau of India (CIBIL) intends to scale up its marketplace business by more than doubling its bank and NBFC partnerships to 35 from 14 presently. “We are providing one free credit report every year to our customers, and depending on the score, we are also providing the customer with options on our website from where she or he could get a loan,” said Hrishikesh Mehta, head of direct-to-consumer interactive operations at TransUnion CIBIL. “We are already getting 1 lakh hits on our Web site per month since January, and we hope to increase this number with tie-ups with more lenders.”
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