To kick off credit super cycle, fintechs dissect consumer data for lenders

From small-ticket loans to fund online purchases to easy non-collateralised credit approved online with only as much as a KYC process is an area that fintech companies are betting on to kick-off the credit super-cycle in India, with internet firms in the financial services space like Amazon, Paytm, PayU, and Ola providing these digital lending features.

At the heart of these credit products, however, is not the conventional verification system to establish creditworthiness of a customer, but hundreds of different datasets being analysed by tech firms to understand the consuming and paying pattern of a person.