CIBIL and TransUnion Launch India's First and Only Personal Loan Score

Mumbai, India -  To enable credit grantors to make loan decisions with greater confidence and reliability at a time of new challenges, Credit Information Bureau India Limited (CIBIL) and TransUnion today announced the launch of the CIBIL TransUnion Personal Loan Score. Developed by CIBIL and TransUnion, the new offering is the first score of its kind for the Indian market. The CIBIL TransUnion Personal Loan Score is the only offering to provide analytics on the likelihood of applicants or customers becoming 91 days delinquent on a personal or consumer loan over the next 12 months.

This unique offering arrives at a time when credit grantors are facing challenges with rising delinquencies in unsecured equated monthly installment (EMI) loans.

For those grantors that have difficulty in effectively assessing risk for unsecured EMI loans, the score enables them to use an objective risk measure to evaluate applicants and reassess current customers. For those that need a score for effective underwriting of loan amounts and terms, the CIBIL TransUnion Personal Loan Score enables them to avoid turning down good prospects while managing risk better. The result from this score provides lenders with greater predictability in making more loans to creditworthy applicants.

"With CIBIL becoming one of the first credit reporting companies receiving an ‘In principle approval’ from the Reserve Bank of India and the first in the Indian market, we are pleased to continue in the tradition of providing value-added service offerings to our customers that continue to meet and exceed their demands," said Arun Thukral, managing director of CIBIL. "Our partnership with TransUnion allows us to accelerate the implementation of world-class services and solutions for the market, while keeping it tailored to our Indian customers and economy."

"Businesses can use the CIBIL TransUnion Personal Loan Score to retain current customers and determine potential customers, ultimately reducing losses and increasing profitability," said Satish Pillai, general manager, Analytics and Decisioning Services of TransUnion. "This new score can help lenders enhance predictability of delinquency throughout the customer lifecycle, especially in terms of risk segmentation, maximization of opportunities with current customers and identification of prospective customers."

The CIBIL TransUnion Personal Loan Score, with a scoring range of 300-900, addresses the key predictors of delinquency on a personal loan including overdue amounts, high credit amounts for trades, the number of inquiries, outstanding balances on delinquent trades and overall levels of delinquency and is an excellent compliment to the CIBIL TransUnion Score released in November 2007.

About CIBIL
CIBIL is India’s first credit information bureau. CIBIL creates immense value for financial institutions by providing objective data and tools to help them manage risk, and devise appropriate lending strategies thus reducing cost and maximizing portfolio profitability. CIBIL benefits both credit grantors and consumers by collecting, analyzing, and delivering information on credit histories of millions of borrowers. CIBIL provides its members with information on both consumer and commercial borrowers, thus enabling them make sound credit decisions across both individuals and businesses. For more information about CIBIL visit www.cibil.com.

About TransUnion
As a global leader in credit and information management, TransUnion creates advantages for millions of people around the world by gathering, analyzing and delivering information. For businesses, TransUnion helps improve efficiency, manage risk, reduce costs and increase revenue by delivering comprehensive data and advanced analytics and decisioning. For consumers, TransUnion provides the tools, resources and education to help manage their credit health and achieve their financial goals. Through these and other efforts, TransUnion is working to build stronger economies worldwide. Founded in 1968 and headquartered in Chicago, Illinois, U.S., TransUnion has employees in 25 countries on five continents. www.transunion.com/business.

CIBIL and TransUnion bring together data, technology and an in-depth understanding of challenges to create advantages for businesses, consumers and
communities. This powerful combination of information and insight can help businesses make better decisions, improve efficiency and identify opportunities at every stage of the customer lifecycle–from acquiring customers to strengthening and expanding relationships with them.