Hyderabad: Fintech actor Recordent and Equifax credit bureau have teamed up to help MSMEs make better credit decisions before offering credit for goods and services by providing a full credit report based on customer consent. potential.
Through this partnership, businesses can learn about a potential customer’s credit behavior before offering credit for goods and services. Businesses will have the ability to reduce their overall risk which could lead to financial losses creating fluctuating business growth. This will encourage customers to maintain a good payment history in order to qualify for credit for obtaining goods and services from businesses in the future.
Winny Patro, CEO and Co-Founder of Recordent, said, âWe will support businesses with a consent-based customer information report that will help them make better decisions before offering a credit, service or loan to a company. customer. Credit default is a concern for MSMEs.
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KM Nanaiah, Country Leader, MD, Equifax India and MEA said, âThe effort is to build credit awareness and promote a good credit culture leading to better access to credit for MSME borrowers over time.
Recordent, headquartered in Hyderabad, is an online technology platform that helps businesses submit customer dues, collect payments faster, and reduce risk before offering any service, credit or service. loan by checking customer payment history.