Rubique ties up with CIBIL for credit score checks

Rubique has now partnered with CIBIL, India ’s premier Credit Information Company (CIC). The company’s platform will provide credit scores to provide valuable insights and increase the transparency in the conventionally-opaque credit-seeking process for all its users.

Rubique has partnered with CIBIL as it is the preferred agency for financial institutions when underwriting any financing deal. While several fintech players have engaged in collaborations with credit bureaus in India, this is the first ever tie-up for CIBIL with a fintech company like Rubique.

This is part of Rubique’s vision to educate the population of India about the significance of credit scores in determining their credit-worthiness and to enable them to better understand their eligibility for loans, cards, and other financial services.

By rating individuals and their credit scores across 6 criteria – utilization of credit limits, credit mix, repayment history, credit application, recent enquiries, and loan settlements – and rating the user as good, average, or poor with reasons for each criterion, the deep analysis will help users understand their credit score and take remedial steps to improve it, if required.

This data will also be used by Rubique to provide customized offers to individuals based on their credit scores and the credit score cutoffs for financial institutions. This will ensure improved chances for approvals for Rubique users while improving the company’s approval ratios.

Users will be able to come to the Rubique website every month and check their score, which shall help them track their credit score’s movement and take the right steps to receive the credit product from their choice of financial institutions.

Rubique has been disrupting the traditional lending process by digitizing the financial sector in diverse ways. The advanced technologies used on the platform analyze hundreds of data points to assess the creditworthiness of customers and provide them with the offers they are eligible for.

The company’s unique Online PLUS model comes with paperless-focused features that transform the loan approval and processing – through e-KYC, bank statement analysis, and real-time status tracking – into an optimized and efficient system taking up minimal time and greatly increasing accuracy.

Rubique also deploys Robot, an AI decision engine powered bot that eases the transaction experience by using customer data to match the customer’s financial requirements with the products hosted on the platform. SPOT, an internal data platform run by Rubique covers the entire consumer journey from lead generation to disbursement for all types of loans and credit cards. Through the deployment of these tech-driven solutions and the access to the products hosted on the platform, Rubique offers a wide range of loan products and end-to-end loan fulfilment to individuals and SMEs.

Commenting on the partnership, Manav Jeet, MD and CEO, Rubique, said, “We are driven by our belief in improving choices and increasing transparency across the financial ecosystem, and an important aspect of this is empowering our users with the right knowledge. By integrating our platform with CIBIL and providing the deep analysis on user’s credit scores, we not only increase transparency but also improve our ability to offer them the best options through our proprietary AI-driven recommendation engine, leading to a win-win scenario for everyone. We also plan on helping individuals with personalized score improvement strategies and dispute resolution through our partnership with CIBIL.