Credit checks or CIBIL score reports provide insights about an individual’s financial standing. They are the accurate measure of one’s financial reliability. Any defaults, late payments etc. can be detected in these reports.
A sound credit report is directly linked to one’s borrowing abilities and a regular screening of the credit score helps ascertain the candidate’s credit standing and how careful they are with their finances. A candidate who is not smart about their own finances can seldom be entrusted with someone else’s money, especially if the person is being hired in the banking industry. Also, if the person is being hired for a senior management position where they need to make critical financial decisions that might endanger the company’s own financial health.
All sectors especially those who are into BFSI need to check a candidate’s CIBIL score. A history of unpaid loans, overdue payments on credit cards, a high debt-to-income ratio usually result in low credit score.
In order to buy a car or a house or to get a loan sanctioned, a candidate’s CIBIL score is verified. Banks too use it before they issue a credit card. The third-party vendors who are hired for performing credit background checks, then go about checking the credit score and generate a credit report. Any suspicious activity that might have taken place is included in these reports. There are several reputed credit reporting agencies such as TransUnion and Equifax
Our proprietary platform offers credit report verification services to anyone who needs to get the credit scores checked. This can be done within on day. We understand the need for verifying financial health and providing the necessary reports at a company’s disposal.