TL;DR: The information banks and NBFCs have access to is restricted, and does not substantially mitigate risk. It is because the lending industry relies on credit score analysis as a standard tool of risk assessment. Inherent nuances within those systems create ambiguities that, in turn, leave margin for errors, omissions, and confusion — leaving a […]
TL;DR — ‘Affluent’ Customers — individuals with distinctly apex lifestyles, are BFSI’s’ most coveted cohort. Inarguably — they have the purchase dispensability to be consumers to the finest products. For Banking and Insurance companies, it translates to one thing only — minimal risk. But there’s another challenge — how do you know if a consumer
TL;DR — Lending is a risky enterprise. To be at its best profit-making potential, businesses need borrowers with maximum tenure without the risk of defaults. The insights that banks and NBFCs work with are limited and do not effectively alleviate risk. Location intelligence helps measure ‘affluence’ — the intangible benefits of functional living or operating
Insurance companies can gain from location intelligence by tapping into risk analysis of different types of risk claims. Increased usage of location intelligence can be crucial for an insurance company’s digital transformation path. Location intelligence solutions have potential applications across a range of insurance processes, including marketing, distribution, pricing, underwriting, loss mitigation, claims, fraud management,
Out-of-home (OOH) advertising, also called outdoor advertising, outdoor media, and out-of-home media, is advertising media usually experienced, as the name suggests, outside of the home. This includes billboards, wallscapes, and posters seen while “on the go;”. Place-based media seen in places such as convenience stores, medical centers, shopping malls, and buildings are also part of
Credit Bureaus such as CIBIL are responsible for keeping historical information of credit of individuals and businesses and credit history is gathered from lenders and other financial sources to obtain the credit score. For individuals and small businesses not having access to regular banking services, standard credit scores from bureaus are not available; and hence
