#CreditScore Vs. #SocialScore in Rural areas and low ticket size loan.

The way we are worried about our #CreditScores, similarly #SocialScore and in society #GoodwillScore works in rural areas. What mental score their society gives them is more important than credit score by bureaus.

They may not be aware of the fact that loan default may mess up with their credit score but for sure are aware that it will damage their social score and hence a repeat loan will be an issue.
This Customer segment is always in need of money so these parameters matter more for them and is also a reason to repay promptly.

And we always think that only a #Formal system can keep things in line. Apart from formal parameters, there are lot of social parameters as well in #Lending, we need to keep both handy for evaluation and #Underwriting.

How would you define the Social and GoodWill scores which exists for this segment?

#Lending, #DigitalLending, interesting #SocialFabrics.



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