Credit information agency, Experian Credit Information Company of India has introduced a new system called 'Tiggers' so as to generate daily notification service to financial institutions about the credit activity of customers.
This would benefit lenders to understand the customer relationship better and also gain a better idea towards risk management.
As of now, Experian covers more than 150 banks as well as non banking financial companies (NBFCs). It gets regular data from these entities. It is in talks to get more banks registered as its members, said Mr Phil Nolan, Managing Director, Experian India.
"Banks in India are now willing to share data with more than one credit information company," he said.
Triggers has been implemented by Axis Bank as well as Fullerton.