|
||
Paisabazaar's Credit Awareness Initiative Enables Over 52 Lakh Consumers to Improve their Credit Score Significantly | ||
Gurgaon, Haryana, India Paisabazaar, India’s largest* digital marketplace for consumer credit, announced today that 52.7 lakh consumers, who checked their free credit score from its platform, have improved their credit score by 20 points or more over a period of 18 months. This includes 23.6 lakh customers whose score increased by 50+ points and 18.2 lakh customers who saw their scores rise by 75 and above points. ~1.25 lakh Paisabazaar customers increased their credit score by a massive 100+ points over an 18-month period.
Paisabazaar says a poor credit score has been traditionally one of the biggest reasons for a low credit approval rate within the lending industry. To resolve this, Paisabazaar has built its free credit score platform on global benchmarks, to provide easy access to consumers, to check, track and build their credit score, thus enabling a more inclusive financial ecosystem. Paisabazaar, in partnership with SBM Bank India, has also launched a credit builder product - Step UP Credit Card, a part of its neo-lending strategy. Backed by a FD, this exclusive credit card has been designed to help consumers with a poor credit score or those who are new to credit to improve or build their score.
About Paisabazaar.com
According to Frost & Sullivan, Paisabazaar was India's largest digital consumer credit marketplace with a 53.7% market share, based on disbursals in FY21*.
Paisabazaar has 60+ partnerships with large banks, large NBFCs and fintech lenders to offer a wide choice of lending products for consumers on its platform.
Paisabazaar, since 2017, has also been providing consumers access to credit reports from credit bureaus, offering consumers lifetime checking and tracking of their credit scores for free. Paisabazaar has been recognized at several industry platforms with awards like ‘Most Innovative Lending Startup’ & ‘Best Fintech Consumer Lender’ by India Fintech Forum and Economic Times, ‘Most Promising Brand’, ‘Digital Lending Award’ at the Fintech India Innovation Awards, ‘Excellence in Consumer Lending’ at IAMAI’s India Digital Awards, ‘Outstanding Crisis Finance Innovation 2021 (Asia Pacific) Award’ by Global Finance Magazine. |
||
|
||||||||||||||||
| ||||||||||||||||