Financial technology debate turns to predicting borrower stress before defaults
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- ✓At the U.S.-India Super Intelligence Leadership Dialogue in Mumbai, experts discussed using artificial intelligence to predict borrower stress.
- ✓Krishnakumar K T of Oleevia Grameen Credits said, "The next breakthrough should be Super Intelligence that helps us understand the borrower's financial future." New tools could help lenders support borrowers before defaults.
Story at a Glance
- Category
- BUSINESS
- Reported By
- mint
- Reading Speed
- 5 Minute(s)
- Market Focus
- India Economy
At a U.S.-India fintech dialogue in Mumbai, discussions included the potential role of advanced intelligence in assessing repayment capacity and supporting borrowers before they fall behind on loans.
Lenders have traditionally relied on credit scores, repayment records, income and existing liabilities to assess whether a borrower can repay a loan. Advances in artificial intelligence are creating scope to examine a wider set of financial indicators, including how a borrower's repayment capacity may change over time.
This raises a key question for the lending sector: can better forecasting help identify financial stress early enough for borrowers and lenders to respond?
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