RBL Bank recently announced that it has partnered with CreditVidya, a leading credit profiler, to offer its customers an enhanced customer experience. The lender issued a release stating that the partnership with CreditVidya would help the bank gain insights into the customer base. This will, in turn, allow RBL Bank to improve user experience and also to build customised offerings for more than 15 lakh customers of the bank.
As part of the partnership, RBL Bank will be leveraging the big data underwriting platform of CreditVidya across its mobile banking and credit card apps. By acquiring insights of its customers, RBL Bank will be able to segment its users better and offer them credit products that are relevant.
The lender first tied-up with CreditVidya in the year 2018 for automated and instant verification of the employment details of card applicants who earn a monthly salary.
Mr. Abhishek Agarwal, the Chief Executive Officer and Co-Founder of CreditVidya, announced that the company has crossed around 12 million assessments through its platform. He added that the insights that will be given to RBL Bank will help the lender offer an enhanced customer experience to its users. Mr. Agarwal also mentioned that CreditVidya’s insights will help RBL Bank cater to new users, as well.
CreditVidya leverages machine learning, artificial intelligence, and alternative data for the purpose of credit scoring to facilitate access to institutional credit for those who are underserved.
Source: The Times of India, Business Today