Part 8/14:
Recognizing that traditional data sources are often unavailable in rural India, Elant Finance leverages KYC photos taken during loan applications. The images, usually captured by field officers, not only verify identities but also serve as rich visual data for assessing living conditions.
By applying multimodal AI models to these photos, they can estimate the affluence and living standards of applicants—forming an objective Lifestyle Index. In rural regions where smartphones or digital footprints are limited, this method offers a novel, scalable way to evaluate creditworthiness.