Typically financial institutions ask the credit bureau to furnish a credit score of an individual for deciding whether an applicant should be given a loan based on the applicant’s ability to repay it. This is typically calculated using the borrower’s credit history.

There are many startups working on alternatives to design credit score models based on AI techniques to check the creditworthiness of individuals, especially those who may not have formal credit repayment history. There are many data points generated with a plethora of digital transactions that can provide important information about how people handle their financial obligations.

That’s where Indian fintech startups have come in to accelerate the credit economy by leveraging artificial intelligence-based credit assessment, working alongside banks, NBFCs and other financial institutions. In this article, we take a look at the leading fintech startups in India who do credit scoring by utilising advanced analytics and AI modelling.

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