i-lend ties up with Lenddo for verification data

Hyderabad: City-based i-lend, a peer-to-peer lending marketplace, on Monday said it entered into a strategic partnership with Lenddo, a global player in using non-traditional data for credit scoring and online verification.

With this, the two companies will work closely together to offer lenders using i-lend platform access to new sources of data to help them make better decision on their customers.

i-lend presently operating in Hyderabad has done over Rs 90 lakh of disbursals through the online marketplace and with this tie-up, plans to scale up its presence across the country to facilitate unsecured personal loans between Individuals to Individuals and institution to Individuals.

“While at i-lend, we use borrowers’ financial data to assess his ability to repay loan, we believe that using social data to understand individual’s behavior and assessing their intention to pay is very crucial and gives us a better assessment of larger segment of borrowers,” Shankar, Founder, i-lend.

The tie-up with Lenddo will help us reach out to borrowers who are otherwise not included in the financial system due to lack of credit history, he added.

“India is a very important market for us and usage of non-traditional data to score and ensure financial inclusion of larger population is critical to India’s growth,” said Abhinav Haldia, Lenddo’s Country Director for the Indian Market.

Our partnership with an innovative P2P lender like i-lend reinforces our commitment to a financially included India, he concluded.