London, Mumbai (June 24th 2020)
CreditEnable collaborates with Experian India to offer solutions to the SME sector
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.
CreditEnable www.creditenable.com is a multi-award winning credit insights and technology company that applies proprietary data analytics, deep learning and AI to build solutions to the world’s biggest financial challenges. The firm was established in late 2017 and is building the world’s first managed marketplace for SME credit. The Company provides decision optimising solutions to help SME lenders grow efficiently and supports SMEs to prepare for and access affordable credit from formal financial institutions.
CreditEnable’s management team has more than 100 years of combined expertise in technology, credit, risk and the SME segment. They have built and managed credit and risk platforms and data analytics solutions for the largest global financial institutions, including Bankers Trust, Bank of America Merrill Lynch, Deutsche Bank, Citi and Experian. In India CreditEnable works with more than 20 of the country’s leading financial institutions including ICICI Bank, IDFC First Bank, Kotak Mahindra, Bajaj Finserv among others. The firm’s founder and CEO Nadia Sood, a serial investor and entrepreneur, was profiled in Forbes last year as one of a select group of Fintech entrepreneurs to watch. (http://bit.ly/38sHYxO) The firm’s Global Advisory Board includes current and former senior figures Tata Sons, S&P, Barclays, Citibank, HSBC and JP Morgan, Sun Gard, and other leading global financial services firms.
Experian is the world’s leading global information services company. During life’s big moments — from buying a home or a car to sending a child to college to growing a business by connecting with new customers — we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organizations to prevent identity fraud and crime.
We have 17,800 people operating across 45 countries, and every day we’re investing in new technologies, talented people and innovation to help all our clients maximize every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.
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