Recordent, Equifax partner to offer credit report

The partnership is to help MSMEs to make better credit decisions before offering credit against goods and services.

Hyderabad: Fintech player Recordent and credit bureau Equifax have partnered to help MSMEs to make better credit decisions before offering credit against goods and services by providing a consent based comprehensive credit report of potential customer.

Through this partnership, businesses can know the credit behaviour of a potential customer before they offer credit against goods and services. Businesses will have a capability to reduce their overall risk that could result in financial losses creating fluctuation in business growth. This will encourage customers to maintain a good payment history in order to avail credit for obtaining goods and services from businesses in future.

Winny Patro, CEO and Co-Founder, Recordent, said, “We will support businesses with consent-based customer information report that will help in making better decisions before offering credit or service or loan to a customer. Credit default is a concern for MSMEs.”

K M Nanaiah, Country Leader, MD, Equifax India and MEA said, “ The effort is to build credit awareness and promote good credit culture leading to better credit access for the MSME borrowers over time.”

Hyderabad-headquartered Recordent is an online tech platform that helps businesses submit customer dues, collect payments faster and reduce risk before offering service, credit or loan by checking the payment history of customers.