Part 4/14:
To bridge this gap, Elant Finance is pioneering a holistic, data-rich approach to credit underwriting. Instead of relying solely on traditional credit bureau data, they are integrating a diverse set of signals, including:
Bank statements (with customer consent)
UPI transaction data (payment and receipt patterns)
Geolocation data (home address, movement patterns)
Behavioral indicators (payment habits, area-specific risk factors)
Using this array of data, they develop advanced machine learning models tailored to borrowers with and without existing credit history. These models analyze lookalike performance data, geographical classification into 200 metro grids, and behavioral signals to produce a more precise assessment of creditworthiness.