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BankBazaar.com partners with Experian
MUMBAI: BankBazaar.com, India’s leading financial marketplace, has announced its tie-up with credit bureau Experian to offer free credit monitoring service to customers, giving them a much better understanding of their financial footprints. Experian Credit Information Company of India Private Limited provides Credit Information Services to consumers. A general misconception is that checking your own credit score on platforms like BankBazaar will reduce your score but in fact, a soft query, which is made by a person or company and not by a financial institution will not affect your credit score.
This one-of- its-kind integration brings several benefits to the customers:
· In the first place, it is absolutely free. Generally, consumers have to pay the credit rating companies for more than one soft query in a year. BankBazaar.com, on the other hand, is facilitating this service through Experian absolutely free. This makes it a cost effective option.
· Second, unlike the usual procedure, which is a mix of online and offline processes, BankBazaar has taken the entire process of applying for the credit score completely online and instant, making it convenient and fast.
· Finally, the report, which provides a detailed history of the applicant’s financial history till date, is supported with detailed analysis and recommendations by financial experts at BankBazaar for improving and maintaining a good credit score.
BankBazaar.com co-founder and CEO Adhil Shetty said, “BankBazaar.com has always strived to make the access to right financial product easy for consumers. The integration with Experian will complement our efforts and empower our consumers with better financial decision making ability. I am very happy to announce that this service in now available on BankBazaar and customers don’t have to juggle between multiple platforms and organization to make an informed purchase decision.”
This service extension will improve the quality of credit applications at BankBazaar as the users will get an idea of their credit eligibility before they apply.
BankBazaar.com chief business development officer Navin Chandani added, “Customers should obtain credit scores in order to evaluate their eligibility accurately and to time their application right. If they have a good score, they will be able to negotiate for better offers. If not, expert’s tips on BankBazaar will help them improve their score. This way, the customer will be able to access the right financial product and apply for it at the right time. This will also enhance the quality of applications on BankBazaar and will assure our partners of our users’ creditworthiness.”
The integration is expected to motivate customers to keep a stronger check on the state of their finances.
Experian Credit Bureau MD Mohan Jayaraman said, “Individuals being able to better understand their credit profile, is key to supporting them take well-informed decisions concerning their credit profile besides ensuring protection from the fast-growing threats of identity fraud in today’s increasingly digital world.”
The report will essentially give a snapshot of customer’s current credit status indicating their utilization of loans and credit cards by stating a score between 300 and 900. It will indicate score details and state reasons influencing the score, such as repayment behavior, credit utilization pattern, type of loan (secured/unsecured), default in EMI payments, etc. Customers may also see whether banks have closed the loans which have been already paid off by them.
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HSBC names Gautam Anand to head global India private banking unit
The bank taps a 25-year veteran to run its franchise as the war for wealthy NRI clients heats up
MUMBAI: HSBC has handed Gautam Anand the keys to its global India private banking business, betting that a seasoned operator can squeeze more out of one of the world’s most lucrative pools of offshore wealth.
Anand, who joined HSBC Private Bank in December 2023 as global co-ordinator for Global India, the Middle East, North Africa and Europe, steps up to lead the franchise outright. He will run the operation across India and its key international outposts in Dubai, Hong Kong, Singapore and the United Kingdom, putting him squarely in the middle of the corridors through which Indian money flows abroad.
The appointment is a signal of intent. HSBC only launched its global private banking business in India in 2023, pitching hard at high-net-worth and ultra-high-net-worth clients as part of a broader assault on Asian wealth management. The bank now wants Anand to turn that beachhead into a fortress.
He comes well-armed. Before HSBC, Anand clocked time at UBS, Credit Suisse, ANZ and ABN Amro, a CV that reads like a roll-call of the banks that have long competed to manage the fortunes of India’s affluent diaspora.
With Indian wealth exploding at home and spreading fast across global financial centres, the race to capture it is only getting fiercer. HSBC is backing Anand to make sure it does not finish second.
