Experian
launches its Commercial Score to help businesses assess credit risk
Study indicates 26%
of the proprietorship firm population and 15% of private firm population are at
a high risk in India
Experian®, the
global leader in credit bureau services, today unveiled itsnew CommercialCredit
Information Report. This report contains a commercial score, which helps in
providing a 360-degree credit assessment by combining the power of both
individual and business borrowings together, which is
unique in the industry.Today, the Experian Credit bureau has more than 525 Mn.
trade lines, with the commercial bureau having 25 Mn. trade lines.
With a strong focus
on innovation and leveraging its global expertise, Experian has strengthened
its commercial bureau offerings in India through the launch of the score, account
review and industry insights for businesses to help them assess credit risk
more effectively. The Indian market has a large proportion of proprietorship
firms; Experian commercial score with a range of 300-900, has been designed
such that itprovides a comprehensive view of commercial obligations of
proprietors. For partnership and limited liability companies along with the
score on all related individuals it will include a risk rating from 1 to 10 on
the entity, thereby providing a unique way to analyse business risks for SMEs
vis-Ã -vis medium to large companies.
Commenting on this development, Mohan
Jayaraman, Managing Director, Experian Credit Bureau, India said,“Recent analysis by Experian bureau in India highlights that 26% of the
proprietorship firm population and 15% of private firm population are at a high
risk. In India, in the formal lending space we have approximate 45% of firms
set up as proprietary firms and with this associated high risk, we believe that
a commercial score and account review will help the banks take informed credit
decisions. Also, I would like to add that the launch of the
commercial score further strengthens our offerings to our clients as well as
bears testimony to our commitment to the government’s agenda of growing Indian
businesses through initiatives such as Make in India and Digital India.”
Additionally, Rajesh
Kumar, Group Head, Co-Head for Retail Risk, HDFC bank has said that “The launch
of commercial score and account review will go a long way in helping the
business assess credit risk more efficiently. We believe that this offering
will help the industry to plan their business strategy better and take more
informed credit decisions, and enable opportunities for their customers.”
In addition to the
above Experian also offers an enhanced version of the report, which comprises
of alternate data such as financials, legal filings, directorship tree, charges
etc. for limited liability companies.
About Experian
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 17,000 people operating across 37 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. Learn more at www.experianplc.com or visit our global content hub at our global news blogfor the latest news and insights from the company.
Contact:
|
Aarti Kalera
Head-Marketing &
Communications
Experian India
T +91-22- 61176809
|
Daylon D’cruz
Account Director
Weber Shandwick
T +91 22 40311277/ +91 9820795501
|
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