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'CASHe' Launch The Social Loan Quotient
Press Release
Thursday, July 26 | 02:23 PM
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Mumbai : India’s leading digital lending company CASHe promoted by serial entrepreneur and private equity investor V. Raman Kumar announced the launch of India’s first alternate credit rating system 'The Social Loan Quotient' (SLQ).

India’s first social behaviour-based credit-rating system, 'SLQ' is a fast, unique and a path-breaking real time platform which leverages big data analytics, artificial intelligence and predictive tools. The innovative platform will help score millions of Indians, who otherwise have been left in the lurch for lack of consumer credit in the absence of credit history.

Considering the young urban mass prefer to avail small ticket loans for short term, the existing traditional lending platforms such as banks and NBFCs’ find it unviable to serve the segment. In addition, the lack of credit history further dampens the situation. Here SLQ will play a pivotal role in helping this large untapped population to avail credit on the basis of the score generated by the system. Soon, the platform will also be set open to other institutions (banks, NBFCs’ and credit bureaus) to integrate and avail the system thereby helping them reach out to the masses.

Unlike conventional lending agencies who rely only on an applicant’s past financial transactions, CASHe’s revolutionary approach links multiple online and offline data points like his mobile, social and media footprint, education, remuneration, career and financial history to calculate the borrower’s credit score.

Speaking on the launch of this new credit scoring innovation, the CEO of 'CASHe', Ketan Patel said, “Credit is critical for the growth of an economy. It incorporates the element of aspiration and infuses growth to keep the economy up and running. However, the lack of alternative credit models, challenging capital eco-system and an unviable cost structure have kept mass India deprived of quick and reliable credit. Through SLQ, we are focused on those who may have little or no credit history with traditional lending institutions. We hope this will revolutionise the digital lending space in the country and encourage other credit institutes and agencies to avail 'SLQ' as the go-to platform to assess credit worthiness of mass India”
 
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