Credit bureau/consumer credit company (CIC) is an Indian venture of Equifax Credit Information Services Private Limited (ECIS) and got the license under the reserve bank of India (RBI) under credit information companies regulation act 2005, request made by the agency specified above in 2010 and since then company is offering extremely beneficial services to customers. Basically Equifax is agency of USA and came into existence in 1899 that avails the services like Credit Reporting for Customer. Indian headquarter of Equifax is located in Mumbai and its branch offices are located in Bangalore and Delhi. ECIS is result of joint venture between reputed Indian financial instructions like state bank of India (SBI), bank of India (BOI), bank of baroda, union bank of India, kotak mahendra bank, religare finvest limited and sundaram finance limited along with Equifax incorporation. This fact is offering amazing services to customers.
Apart from availing customer credit data services cordiality its shopper credit authority which was introduced in 2010, Equifax is frequently credited with going out on a limb scores and portfolio surveys of different microfinance establishments the nation over by introducing its microfinance agency in May 2011. Equifax additionally offers multi authority services in that information from different credit departments is united into a solitary purpose of request for streamlining techniques. Equifax offers different esteem included administrations which can be used through the credit lifecycle. Equifax likewise offers a solitary window interface for the two information passage and credit enquires.
1.Consumer Credit Bureau: it performs one of the initial steps of Equifax and that is offering authentic information to customers at the same time it offers review to customers to specify their credit related information. Equifax holds the biggest collection of database of customers score. It uses latest and highly integrated technology to give instant response of customers requests. Authentication of customers is quite easy and reliable in comparison of other resources. Consumer credit bureau brings some most prominent services to customers and some of them are specified below
2. Microfinance Bureau: In 2011, Equifax signed a pact along with microfinance institution network so offer the facilities like microfinance portfolio review, microfinance credit information report (MCIR) and microfinance score.
3. Verification Services: Before providing the report Equifax ask for PAN number or Aadhaar number to avoid any threat.
4. Multi Bureau Solution: This is one of the best platform that brings most authentic information about all request made by the customers.
5. Value Added Services: Offered by the Equifax are industry diagnostic, process redesign, pricing and product redesign, credit risk and fraud management products and solutions, collection products solution, governance and monitoring framework.
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