New Delhi, May 4 -- In the evolving landscape of global lending, traditional credit assessment methods need further augmentation to meet the demands of speed, inclusion, and accuracy. Traditionally, lenders relied heavily on bureau data such as credit scores, repayment histories, and outstanding liabilities to make underwriting decisions. This approach works by using retrospective analysis of the credit behaviour, often leaving out large segments of the population which do not have enough credit history.

This need has led to a new approach often referred to as precision underwriting. Precision underwriting is a modern approach where decisions are based on deeper analytics of individual behaviour, real-time data and the use of AI/ML model...