Do you have a low credit score? Did you miss paying your last credit card bill on time? Have there been occasions when your EMI cheques have bounced?
Worry not. You can still get a loan from one of several new-age lenders who have devised their own artificial intelligence or AI-powered algorithms to assess customers’ credit-worthiness. And in the process, they’re bringing about a sea change in the lending business.
Thanks to technology, credit-worthiness is now being based not merely on traditional metrics such as the credit score of a person or a firm sourced from rating agencies like Cibil,