Equifax has a proven track record in successfully building and managing Microfinance Data Exchanges in developing parts of the world. In India, we launched our dedicated Microfinance Institution bureau in June 2011.
These are some of our group's achievements across the globe:
- Successfully built Peru's first Microfinance exchange in 1998.
- Successfully built Ecuador's exchange in 2004.
- Built partnerships with local Microfinance associations in order to establish a successful name and gain credibility.
- Integrated data from telecom and utilities to enhance the information depth on reports and scores.
- Scaled to more than 90% hit rates and more than 95% acceptance rate within the first 2 years of bureau operations.
In India, we have worked closely with Microfinance Institutions Network (MFIN), to develop a Microfinance Institution bureau framework. Leveraging the highly adaptable and customizable technology platforms provided by Equifax Inc., we have enabled the swift setup of a microfinance exchange in the country. Our Microfinance Institution bureau offers access to data from our member microfinance institutions. Its proprietary report format with value added features enables easier and faster understanding of the borrower's credit profile and allows lenders to access microfinance institutions' data. We also have microfinance industry-specific search match algorithms which work accurately even with lower data availability.
Our advanced technological and operations systems offer the following:
- Acceptance of input data through multiple methods (all secure and encrypted).
- Weekly/Monthly data updates for swift information availability - Scalable platforms and processes.
- Multiple product delivery channels.
- State-of-the-art infrastructure with high platform availability.
- High levels of customer service for disputes, disclosures and other operational activities.
For more information on our services, please contact us