Several Founders, Co-Founders, CXO Bankers, CXO Fintech professional & people who participated in the ePanel discussions:
- Mr.Vijay Shekhar Sharma, Founder & CEO, Paytm
- Mr. Rohit Kilam, Head Technology Digital Lending, Aditya Birla Finance Limited
- Mr. Arun Tanksali, Co-founder & CTO, Nearex
- Mr. Saurabh Soni, Former Business Head, Happy – Financial Services
- Mr. Ajay B Panicker, CEO & Founder, NetPay Limited
- Mr. Anupam Varghese, Chief Tinkerer, Tinkerbee Innovations
- Mr. Neeraj Chandra, Head of Operations and Technology, Abu Dhabi Commercial Bank
- Mr. Mohan Bharatia, Consulting Partner, Ripple Analytics Consulting
- Mr. Deep Shah, Senior Associate – Product Reserch, NPCI
- Mr. Mohamed El Sabban, Chief Innovation and Strategic Development Officer, Misr Capital Investments S.A.E
- Mr. Hemal Shah, Technical Product Manager, Mastercard
- Mr. Abhishek Mody, former Associate Director-Payment & Digital Initiatives, IDFC Bank
- Mr. Vikas R Panditrao, Co-Founder, Forum of Industry and Academic Knowledge Sharing (FIAKS)
- Many other CEO/CXO Bankers & Fintech professionals on FIAKS Forum requested to remain anonymous
Have you heard about Credit Bureau? What is it? Well, A credit bureau is an agency, more specifically a data collection agency, that partners with various lending institutions and credit issuers and provides them with fee-based individual credit information that is collected and researched by the agency so that these creditors can make loan decisions.
Now here’s one grave concerning personal experience shared by a community member;
“I was checking my Credit Bureau scorecard. There I started observing one consumer loan category and to my shock, I have not taken any. Then I realized that it is under the name of XYZ finance Ltd (NBFC). When investigated I came to know it is because of Wallet postpaid. I’ve never consciously subscribed to it. However, I’ve not utilized a single penny out of the same postpaid account. But it’s a concern here as it is adding to my account as total value borrowed. Isn’t that a grave concern that tomorrow ABC postpaid and your postpaid telecom bill started getting reported to the bureau? It might affect anybody’s scorecard. Also further, I’m not able to unsubscribe the wallet postpaid. It’s really very difficult.”
- Another member shares a similar experience, “This is a bit surprising, I did try to subscribe to the postpaid credit in one of the wallets, though I never used it. But in that context, it was never brought to my notice that my score would get affected. Some inherent gap in the value chain it seems.”
- Firstly, to clarify, the wallet postpaid mentioned above refers to a postpaid mobile connection as the wallet is a virtual prepaid account by default.
- Now, it’s really unsettling and surprising that this is showing unless the person has agreed to the postpaid facility. Till then it’s an offer, and cannot be counted under credit facilities to the person.
- Also, another concern here is if the individual has not taken any postpaid service of the wallet then he should not have any impact on the bureau score.
- A member mentioned, “I know many youngsters who have no loans and are in the first month/year of their career who cheerfully use several postpaid wallets. If it is treated as a loan and the users are not sensitized to how it affects their credit score, they could start their financial journey in the red and get shut out of the mainstream for no good reason”
Now, let’s introspect further on creditworthiness: REGISTER and READ the full discussions