Trust but Verify

Know your Borrower better & protect the asset book from fraud involving siphoning of funds through Related Parties & Common/Cross Directorships through a quick check on MCA & GST Database.
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Fraud Identification

The Challenges

Problems Of

Diversion of Funds
  • In a situation the sole proprietor or the partnership firm has corporate firms (Private Ltd or Listed firms) as part of their web of entities and money is flowing to these Corporates (related parties) as vendor / supplier payment or otherwise, the credit team without such identification is unable to raise red flags before the additional funds are siphoned off.

Problems Of

Identification of Past & Present Default
  • Purpose of Verify is to ensure borrowers who have defaulted before do not approach lenders through seemingly unconnected entities. Borrowers of companies that have defaulted are not able to raise funds, hence they approach lenders through other seemingly unconnected entities. The intention here is to raise funds through unconnected entities and divert funds to the defaulting Corporate.

Bulk PAN Upload & Verify Existing Portfolio

Empowered with bulk PAN upload feature, Verify will help the lender swiftly SmartCheck its existing asset book of SME/MSME/Sole Proprietor/Partnership/Self-employed against fraud linked to diversion of funds, cross-linkages in the past or present as well as stress identification. Reduced TAT on decision making & due diligence at enterprise wide & portfolio wide scale is possible through Verify.

Sales Lead Generation

In a situation, the individual has a clean digital footprint, these could become a direct sales lead for the SME team associated with the prospective/current borrowers. Access details of the Corporate in a tabular excel format for further analysis.

Verify Platform Overview

Keeping pace with rising demand for authenticity across digital and branch banking channels amidst rising volumes for advances requires smart technology and data processing capabilities over public data-sets. Verify is designed for Credit Personnel to validate the cross directorships or related party relationships of an individual loan applicant, typically a sole proprietor owner or partnership firm owner.

Key Features
MCA & GST Check

Past & present related entities identification through MCA & GST Database associated with the PAN number.

DIN Identification

Identify an individual borrower that has any corporate digital footprint basis their PAN number.

Red Flag Identification

Important red flags/stress points in past & present related entities of the PAN holder are swiftly identified.

These flags cover governance, litigation and default related information on these linked entities.

GST Data Identification

GST establishments linked to PAN auto identified & any delay in filings automatically calculated and represented in a tabular excel sheet.

Check GST Filings at scale using Bulk PAN Upload feature of existing asset book of sole proprietor, partnership firm etc.

Bulk PAN Upload & Verify Existing Portfolio

Check for related Parties and common Directorship within your existing portfolio seamlessly and at ease.

Quick turnaround time.

Depiction in Excel Format

These vital information will be auto populated in a tabular excel format for quick and accurate decision making.

Such smart analysis results in saving up a lot of cost and time, rather than the user ordering multiple reports of the linked companies and going through lengthy credit bureau reports to identify anomalies.

Industries We Cater

Large Pvt and Public Banks
Large and Medium NBFCs, Fintechs

Ring-fence your asset book from fraud involving diversion of funds through Related Parties & Common/Cross Directorships.

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