Equifax India is registered as Equifax Credit Information Services Private Limited (ECIS). It is a joint venture between Equifax Inc., USA and seven leading Indian financial institutions - State Bank of India, Bank of Baroda, Bank of India, Kotak Mahindra Prime Limited, Religare Finvest Limited, Sundaram Finance Limited and Union Bank of India. Equifax India aims to provide a broad range of solutions related to credit information, business analytics and risk management to its clients, across India. Equifax India is headquartered in Mumbai and has branch offices in Bangalore and Delhi.
Equifax India was granted its 'Certificate of Registration' on 26th March, 2010 by the Reserve Bank of India (RBI) to establish a credit information company under â€˜The Credit Information Companies (Regulation) Act' 2005 (CIC Act). They launched consumer credit bureau in September 2010 and also launched a separate dedicated bureau to address the growing lending and regulatory needs of the Microfinance Institutions in May 2011. They currently have more than 1300 registered members and are regularly adding new members and data into the bureau.
They collect information from their members, process the data into a readable and usable form and provide credit information reports and other related products on individual consumers for a variety of uses within the purview of the CIC Act. In addition to identification information (as provided by their members) they also provide information on individuals' borrowing and bill paying habits. This helps lenders assess credit worthiness of their borrowers and their ability to pay back a loan if granted.
Backed by their global expertise, their goal is to assist lending institutions manage risk efficiently through a combination of data and robust analytics. The unique insights that they deliver, help lending institutions make better business and credit decisions, using global proprietary tools customized to meet Indian requirements.
They currently have a wide range of products on offer for credit grantors and borrowers - Basic Consumer Information Reports, Enhanced Consumer Information Reports, Microfinance Institution Credit Information Report and Equifax Alerts. To improve the data quality and thereby the quality of the credit information available, data enrichment and cleansing services are also on offer.
They have a highly driven and energetic team in the country with experts and leaders who come from the Banking and Financial services world. With a complete perspective of how credit information gets used in the real world and the expertise of the global team, they are committed to delivering world class products and services that will help lenders make the best business decisions.
For this reason, Gullakh.com has partnered with Equifax to offer you the best in class credit report with score absolutely FREE for Gullakh users.