Square Capital, mortgage advisory platform of India’s largest real estate transaction advisory Square Yards, announced that it has integrated its systems with a major credit reporting bureau to provide free credit information to clients and help them in speedy disbursals of loans.
Square Capital facilitates loan disbursals of around Rs. 150 Crores per month and it has registered its name among top 3 loan distributors in India by value of loans disbursed. Square Capital’s mortgage advisory has been one of the fastest growing and the most profitable business for Square Yards and the company is on target to achieve a triple digit revenue growth for the mortgage advisory business.
“Square Capital has grown on the back of strong technological innovation and enhanced customer experience. There has been a lot of awareness in recent times about credit scores and clients now understand its significance. By offering a free credit report we want to spread further the knowledge of credit scores and underscore its significance to our clients,” said Indrajit Sidhanta, Principal Partner & Business Head, Square Capital.
A credit score is a determination of a person’s creditworthiness based on many factors relating to past loans, credit history, present debt, application for loans etc. A credit score ranges from 375-900 with 700 or more as an ideal score for seeking loans. Simply put, higher the credit score, the better a person’s credit worthiness is. A credit information report contains the credit score and brief details about credit history and outstanding loans. Lenders rely on such reports to disburse loans and decide on loan terms as it gives them better insight on a prospective borrower’s finances and financial habits.
Square Capital technology team is currently working on an integrated tech platform that will take the entire end to end cycle of mortgage lending to an online platform – from customer query, product policy check, credit decision making, eKYC check, online applications, all integrated with bank’s backend system and right through disbursal of loans. As India is progressing towards a digitally enabled economy, a major part of lending and loan disbursal process will move online. The home loan mortgages business in India is ripe for disruption by a true end to end technology services aggregator like Square Capital that can handle the entire customer journey from search & discovery to fulfillment and post transaction services.
About Square Capital
Square Capital is India’s first unbiased loan advisor for best deals in loans and unmatched advisory services. It is a one stop shop for all types of lending solutions. It manages the entire borrowing process for clients, starting by assisting clients to choose the right product from the appropriate lending organization, till the time, the entire loan is disbursed. Square Capital is a part of the umbrella company Square Global and affiliated to the flagship brand called squareyards.com.
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