Distributed Credit Chain : Educating Borrowers

[marydarli]

DCC will give more knowledge and skills to borrowers on application requirements, their own credit worthiness, and accessible services. This has spawned a large number of service agencies and loan intermediaries. Creditkarma for instance , helps borrowers check their own credit scores and recommends consumer finance and credit card products to borrowers, which undoubtedly prolongs the loan application chain and reduces the efficiency of service delivery. From the credit agency's perspective, significant amounts of time and energy are wasted in verifying the credit of borrowers who do not suit their risk appetites, which leads to resources waste and drastic decrease in efficiency.