LoanTap has officially rolled out the Business Indicator for Credit Ratings in India (BICRI) Report nationwide, aiming to transform the credit landscape for micro-retailers and MSMEs. BICRI is an AI-powered credit assessment tool that evaluates financial data, credit history, trade behavior and social metrics to provide a comprehensive credit score. It empowers micro-retailers and MSMEs to assess their creditworthiness while equipping lenders with data-driven insights for better decision-making. The tool has been refined based on feedback from early adopters, ensuring enhanced usability and accuracy.
Key Features of BICRI Report:
- Comprehensive Credit Assessment – Analyses financial, trade and social metrics.
- Seamless Bank Statement Sharing – Integrated with the Account Aggregator platform for OTP-based access.
- Affordable Pricing – Launched at an introductory price of Rs 499 to encourage adoption.
- User-Centric Enhancements – Improved based on real-world feedback from early adopters.
- Financial Inclusion Focus – Designed to bridge the credit gap for underserved MSME sectors.
Speaking on the launch, Satyam Kumar, Co-Founder and CEO, LoanTap, emphasised the company’s commitment to financial inclusion. He stated, “We are excited to bring BICRI to the national stage as a game-changer for MSMEs. By combining AI-driven insights with real-world feedback, we have created a tool that not only enhances access to credit but also builds a sustainable credit ecosystem tailored to the needs of India’s small businesses.”
With its nationwide availability, BICRI is set to play a pivotal role in transforming India’s MSME credit landscape, empowering small businesses with better financial insights and improved access to credit.
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