Banks employing skip trace tool to catch the loan defaulters
By Vaibhav Aggarwal
Jun 27, 2014
Print    Email    RSS   

Banks and loan agencies are introducing new skip trace tools that will assist them in catching the loan defaulters easily. It has been reported that loan defaulters easily use to hide themselves by changing their places, but now no longer the loan defaulters can hide themselves.

Banks are increasingly employing skip-trace, a method to extract and analyse creditor information that was difficult to obtain before. Skip trace tool allow users mine their repositories for alternative contacts and business locations of an existing customer, and give insights into his credit relationships and payment behaviour. This will be done by analyzing the user details such as contact number, address details which will assist the lender to trace who has defaulted.

Even if the defaulter changes his place he will be caught, If the defaulter uses the same name and identity proof like his PAN number, the system will identify the fraudster.

(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

How far can new banking licenses be banked...
Personal Loan Vs. Cash advance from credit...
Carnival of Indian Personal Finance Blogs #6
Glittering Ways of Investing in Gold
Carnival of Indian Personal Finance Blogs #3

Wickr ID :::gblghl2;;;;GBL Gamma Butyrolactone Wheel...
HOTEL: CaℒL Giℛℒs In Kharar 09855660911...
Model Escoℛts Service In Pune 8888IOO484 Caℓℓ...
What is the outstanding Amount for my personal loan

LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive