Gridlines by OnGrid brings API to drive lending process for FinTechs & NBFCs

By Gloria Mathias

OnGrid, India’s trust platform offering comprehensive background verification and checks, has recently announced the launch of its Criminal and Court Record Verification (CCRV) API for NBFCs and the FinTech ecosystem.

Gridlines’ CCRV API is poised to transform the way underwriting decision-making happens via swift and in-depth criminal or civil court record checks.

With crores of ongoing criminal and civil cases in the country and a developing lending ecosystem, the API is set to help with an alternate approach to underwriting. The CCRV API has emerged as a robust solution offering a comprehensive check across criminal and civil court records that can help lenders mitigate the risk that arises from bad loans or non-performing assets (NPAs).

Talking about the importance of CCRV in lending, Piyush Peshwani, Co-founder and CEO shared, “The economic expansion in India is poised to receive a boost with the increasing accessibility of loans, facilitating upward mobility for millions of people within society. Notably, there is a surge in loans being provided by NBFCs and FinTechs. However, caution is advised, as historical instances have demonstrated the consequences of compromising underwriting thresholds in certain regions. Consequently, the introduction of this API is envisioned to assist lenders in effectively managing a critical risk.”

Vaibhav Yadav, Associate Director, Product at OnGrid said, “Leading the charge in the BFSI industry, our focus remains steadfast on enhancing safety and reliability. Our commitment to excellence in criminal court record verification is not just a service, but a cornerstone of trust and integrity in financial operations. We empower our clients with the tools to make informed decisions, securing a foundation of unwavering confidence in their operations.”

Furthermore, CCRV APIs not only reduce the risk of financial fraud by ensuring seamless criminal history verification but can also be consumed as a standalone service, benefiting myriad lending corporations and individuals. It can be utilised by lending service providers, banks, NBFCs, insurance providers, product managers, engineers, and entrepreneurs operating in a plethora of sectors.