First time in the history, A mobile application and website is built to provide score to people based on how people keep their financial commitments
CREDBAL helps to know about other people’s credibility and trustworthiness character based on how they repay their money which they got from others.
We as a human do certain financial transactions based on the trust we keep on people, like providing hand loans to friends/relatives/colleagues and providing credit in business to our customer based on the belief that they will return the money back to us on promised dates by them.
But Nowadays people mindset have changed, they don’t bother about returning the money to us, as like they care about repaying their bank EMI’s.There was a time even where banks were struggling with the same non-collection problem. So Banks introduced‘CIBIL SCORE’. And used CIBIL SCORE to save themselves from inadequate persons and increased their collections. Because of CIBIL SCORE, banks collections on time also roseto a great extent.
Another shocking fact is that, As per Zurich SME Risk Index,small and medium sized entrepreneurs are owed in total an estimated amount of Rs.3.89 lakhcrores in latepayments. That’s a lot of money currently in the wrong hands.And because of this non collection issue nearly 10% of business people had to shut down their business. This problem is emerging all over India, And due to this the enthusiasm of young entrepreneurs are affected psychologically and leading the path to createtrust issues on this world in young minds.
And with the Introduction of Credbal, here comes the Great solution for all the above problems.
It’s very simple to use CREDBAL, what all we have to do is just register yourself in CREDBAL with your government proof and add your ‘Amount to be received’ from others in the CREDBAL platform and make sure that other person accept thecorrectness of your balance from their login. That’s it.Easy!
After the introduction of CREDBAL, many people registered themselves in the Credbal and are addingtheir outstandingreceivables in Credbal’sonline platform.And to their surprise, they are seeing steady gradual growth in their collection of money compared to that of others. Because their customers started to feel that if they doesn’t repay the persons registered in Credbal on time, their Credbal score will be fall down and which would affect their future credit purchase,credit history andtheir credibility in the city.
When enquired aboutCREDBAL to Mr. KARUNAHARA, the co-founder of CREDBAL, he told us that “we are in the digital world. It’s the need of the hour, that there is to be an openonline platform to disclose the credibility and trustworthiness of the people based on their financial obedience. CREDBAL willcreate a better country full of Financially Responsible & trustworthy younger generation. And also assured that CREDBAL has the potential to transform the financial fortune of our country.
Got to know more about CREDBAL
Visit the website –CREDBAL
