Leveraging Tech: How Facebook, SMS and GPS can determine if you are a reliable loan applicant

Leveraging Tech: How Facebook, SMS and GPS can determine if you are a reliable loan applicant

Anand adds that the technology-friendliness of MSMEs is improving drastically over time and this can be good for small businesses who feel the dearth of institutional forms of credit. Fintech firms,NFBCs and banks are now collaborating to push the agenda of digitising India and are tracing the digital footprints of customers applying for loans. The new form of credit rating includes outlining the customers’ GPS locations on their smartphones, supervising their SMSes, studying their online shopping histories, and locating their Facebook activities to get an insight about their personalities and reliability. So, what does it mean for a small […]

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