i-lend: i-lend ties up with Lenddo to offer access to new sources of data

Hyderabad based i-le­nd, a peer-to-peer lending marketplace, has partner­ed with Lenddo, to offer lenders using its platform access to new sources of data, helping them arrive at better customer-related decisions.Lenddo uses non-traditional data for credit scoring and online verification.i-lend connects borrowers in need of money to lenders who are ready to lend. Borrowers can get loans at lower costs on i-lend and have the flexibility to choose smaller loan sizes.Lenders similarly have access to a new asset class that offers monthly cash to them with higher returns at moderate rates.The company, which presently operates in Hyderabad, has done over Rs 90 lakh disbursals through the online marketplace and with this tieup, plans to scale up its presence to facilitate unsecured personal loans between individuals to individuals and institution to individuals."While at i-lend, we use borrowers' financial data to assess his ability to repay loan. We believe that using social data to understand individual's behaviour and assessing their intention to pay is crucial and gives us a better idea about a large segment of borrowers," said Shankar, founder, i-lend.This will help reach out to borrowers who are otherwise not included in the financial system due to lack of credit history, he said.krishnamohan@mydigitalfc.com