to instantly read 150+ free stories & 250-word summaries of all our stories

Bank on this?

RBI checks out credit checker Perfios

A nine-year-old firm, that claims to be India’s largest, assesses creditworthiness of loan-seekers. But it is walking a fine line on data security. Can regulation be its inflection point?

02/08/17

Arundhati Ramanathan

Perfios has had to slowly build acceptance for its service as it uses screen scraping as one of the ways to collect data from bank statements

 

Lending institutions, for which this service is the most beneficial, are also spooked easily due to possible security risks

 

The Reserve Bank of India’s guidelines will eliminate some of the concerns about this business

 

But many aspects of the regulation are still unclear

 

thorns.jpeg

Want to read a free 200 word summary?

Taking a loan is bittersweet. While there is someone to bail you out in time of need, the paperwork for getting a loan approval is a drag. There is a whole machinery involved, and it is far from efficient. The documents go to the lender’s back-office for processing. The details are entered manually on a…

Read the full story. Subscribe now.

Also read our exhaustive coverage about Demonetisation and GST, FinTech and Credit Lending Models

Why subscribe? Let us explain.

Already Registered?

Related stories

More stories in /Reportage & /Technology

See all in Business & Reportage

This story is for subscribers only.
or

Read the full story. Subscribe now.

Also read our exhaustive coverage about Demonetisation and GST, FinTech and Credit Lending Models

Why subscribe? Let us explain.

The selected story is available only for paid subscribers. Might want to change your mind!

Subscribe now

Already Registered?

Questions?

What is The Ken?

The Ken is a subscription-driven media site. We write one story a day (weekdays only). These stories have sharp, original insights on technology, business, science and healthcare from India.

Why do I have to sign up to read your stories?

Our stories are not free. Well, some select stories are. But, a significant part of what we write at The Ken is for subscribers only. We put in a lot of effort and resources in writing our stories and believe that you must pay for good journalism.
Hence, our three plans. 1) The annual membership
2) The free sign up
3) The recurring quarterly subscription

On journalism and why you should pay for it, if you haven’t already seen it, here’s a great explainer from John Oliver.

So, one must pay for journalism?

Yes.

How many stories will I get if I take an annual membership?

787+ stories.

And, in the free sign up?

Four stories every month.

Do I get a refund?

We allow you to sample our journalism for free before signing up, and after you do, we stand by its quality. But we do not offer refunds.

I am not getting my daily emails. Do I have to whitelist emails from The Ken?

An added benefit of your subscription (free/paid) are the daily personalised emails. These emails, at times, might end up in your spam/junk folder due to emojis, attachments or images. In case you’re not receiving these emails, it might help to whitelist us. If the problem still persists, write to us at [email protected].

Why am I unable to access the archives?

Full and unrestricted access to our archives is a feature of our annual membership.

My payment is not going through, what can I do?

Please write to us at [email protected] detailing the payment error or queries.

See all FAQs

    See all results for Ken

    No results found for Ken.