Chennai
iScan is a path breaking solution for the Indian market that leverages CIBIL’s vast repository of commercial credit information to provide financial institutions with insights on their current account applicants.
Launching CIBIL iScan, CIBIL Managing Director Satish Pillai said, “We are committed to partnering with our members and the RBI to create insights, content and solutions that can support the Industry.
It is aimed at helping financial institutions in reducing the risk and time taken in opening of current accounts by providing them a concise view of all the credit relationships the entity has across other financial institutions.”
The Indian Banks’ Association (IBA) had recommended the creation and usage of CIBIL iScan to help prevent increase in stressed assets and establish best practices for building a strong system for risk mitigation.
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