On 26th April 2019, Seven of these AAs has gone into a closed user group testing. This is an epoch moment when the users in India can claim ownership over their own financial data.
We hope that this will accelerate the revolution of cash flow based lending that will replace the existing paradigm of collateral-based lending. This isn’t only a consumer-centric innovation.
Access to the right data means lenders can proactively monitor and evaluate currently disbursed loans. Such a move will not only increase the quantity of lending through increased access but also the quality of lending through better screening of borrowers, early alerts, etc.
For more information, please visit: https://sahamati.org.in/