Data
Reimagined

Empowering Financial institutions with data based lending using GSTN Ecosystem

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IRIS’s Data-Based Lending Solution

IRIS Credixo helps lending institutions to move from traditional asset-based lending to data-based lending. The likes of Banks, NBFC’s and Fintechs can simplify their credit assessments with consented GST data.

This helps to bring down their cost of processing and arresting increase in NPAs. Use of GST data transforms turnover and cash flow based financing to one based on first hand, real time information.

India is expected to have huge credit growth across sectors and more lending to MSMEs is in the offing. This provides us a unique opportunity to re-imagine credit products like never before. Credixo stands at the intersection of Data and Lending Experience.

It allows lenders to grow volumes, stand out from the competition and gather meaningful customer data to provide seamless “lending in the box” credit experience and design tailored customer journeys.

The platform triangulates GST data with bank statements and bundles with artificial intelligence and machine learning to build advanced credit decisioning models that accurately evaluate the financial health of businesses. Triangulation report provides the details of the actual cash flow in bank statement with respect to sales and purchase transactions reported in GST Data and helps in determining the collection and payable cycles of a borrower. Negative flags can also be triggered with this triangulation in case of suspicious transactions.

Why GST Based Lending?

Green Arrow Granular Data
Green Arrow Invoice  Verified
Green Arrow 6 M+ GST Returns

Green Arrow Digitally Signed
Green Arrow Easily Accessed
Green Arrow Real time data

How does IRIS Credixo work?

  • Sign-in IRIS Credixo
    In Credixo, Lender signs in and shares either GSTIN or pan number of customer (or API sharing is enabled through an integration with the ASP & lender)
  • Get access to  GST data
    In a few clicks, the Lender is able to access specific  GST data as per your credit model
  • Build credit score and make credit offer
    With consent, the lender uses this data for underwriting, build a credit score and makes a credit offer to the MSMEs
  • Complete the KYC
    The MSME provides his bank account details for real-time loan disbursement and based on the type of the business you can complete KYC
  • Take mandate either digitally or physically
    Take mandate either digitally or physically based on the customer for repayments
IRIS Credixo empowering financial institute for building Credit score for Lending using GST Data

What does GST Data have?

Geography
Statewise bifurcation of B2B and B2C , Breakup of sales
Vendor Data
Details of vendors across products and their breakdown
Customer Data
Details of customers across products and their breakdown
Purchase Data
Inward supplies of goods and services with company health trends
Sales Data
Outwards supplies of goods and services, aggregate turnover and HSN – wise summary with company health trends
Public Data
GST registration details and compliance status

Why IRIS Credixo?

IRIS Credixo is at the intersection of Digital Data and Lending Demand. It allows technology-driven credit scoring. The assessment models are driven by a massive volume of data from various disparate sources, compiled and analysed extensively with the help of algorithms to derive useful insights.

The resulting credit score is then used by lenders to take decisions pertaining to the financing of loans such as assigning interest rates, quantum of loans, deciding on repayment terms, timelines, etc.

  • Green Arrow
    Arrests increase in NPAs
  • Green Arrow
    Creates robust credit appraisal process
  • Green Arrow
    Monitors cash flows
  • Green Arrow
    Measures borrower’s business
  • Green Arrow
    Enhances ability to give loans
  • Green Arrow
    Allows access to their suppliers
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IRIS Credixo is at the intersection of Digital Data and Lending Demand

Future With Open Banking

Evolution of lending with GST data and E Way bill information to explain future of open banking
Customer-centric Solutions
Helps build customer’s complete financial profile facilitating innovative lending offerings and making lending more customer centric.
Data with Insights
Transaction data with GST data along with MCA filings data and bank statements can prevent defaults with early warnings
360° Monitoring
Enables efficient collection by tracking funds and triggering alerts when customer misses repayments for any loan taken across all lending firms.
Superior Credit Assessment
Improve customer experience with digitization, advances in data analysis, intelligent use of tech, AI and machine learning by building superior credit assessment models.

What more can you do with IRIS Data-Based Lending Solution?

Integrate other data sources
  • Annual filings with MCA
  • Income Tax Return
  • Bank statements
Create and define credit templates
  • Populate data in templates
  • Early warning systems
  • Fraud Detection
Evaluate Vendors
  • Check compliance
  • Filing scorecard
  • Vendor risk rating

IRIS Data-Based Lending Blogs

10 tips and tricks to jump-start using GST data for lending
Data-Based Lending
10 tips and tricks to jump-start using GST data for lending
by in Data-Based Lending
Publish on July 27th, 2021

Utility of GST data for lending is proven, especially when it comes to lending to small businesses. The availability of data over APIs, relevance, and authenticity of data source i.e. the GST system itself, makes it the best fit for large scale digital lending programs. Read the article and learn about the important points to note while using GST data.

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The story ‘beyond compliance’ – All about GST Data and its Emerging Use Cases
Data-Based Lending
The story ‘beyond compliance’ – All about GST Data and its Emerging Use Cases
by in Data-Based Lending
Publish on March 9th, 2021

All about GST Data | GST as a data source is getting deeper, wider and richer | The length and breadth of GST Data | Types of GST Data

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4 Factors to Consider while Building Credit Models using GST Data
Data-Based Lending
4 Factors to Consider while Building Credit Models using GST Data
by in Data-Based Lending
Publish on March 4th, 2021

4 factors to consider while building credit models Using GST Data | GST Data based lending is gaining a lot of popularity | When we talk about digital-first, rather digital-only strategy, data is at the core

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GST Data-based Lending- Silver-bullet to MSME Credit Lending Challenges
Data-Based Lending
GST Data-based Lending- Silver-bullet to MSME Credit Lending Challenges
by in Data-Based Lending
Publish on August 11th, 2020

Read more about the GST Data based lending and how it is the emerging case for MSMEs Credit Appraisal. How GST data based lending can be beneficial.

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MSME Relief Measures Released by the Government to Fight Pandemic
Data-Based Lending
MSME Relief Measures Released by the Government to Fight Pandemic
by in Data-Based Lending
Publish on June 19th, 2020

Measures released by the government for MSMEs (Micro, Small, and Medium size businesses) to compensate for their loss that occurred due to the COVID-19 crises and the lockdown.

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Request a demo or get in touch to learn more about how IRIS Credixo can help you in Credit Evaluation and Portfolio Monitoring

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