Recordent launches Credit Registry, a non-banking payment reporting platform

By Gloria Mathias

Recordent, India’s credit and payment reporting platform, has launched its Credit Registry. This non-banking payment reporting platform marks a transformative leap in fostering financial transparency and empowering businesses to make well-informed credit decisions.

The Credit Registry empowers sellers to report invoice and payment data, enabling the compilation of a comprehensive B2B credit report for buyers. This invaluable information streamlines the decision-making process. Importantly, once buyers are reported to the Credit Registry, notifications are issued directly from Recordent, sensitizing them to the consequences of non-payment or delayed payment and their impact on their B2B credit profile.

Recordent’s Credit Registry is not just about data; it’s about cultivating a culture of financial responsibility. By educating buyers on their credit obligations, it fosters a robust financial ecosystem where trust and reliability among businesses flourishes.

Winny Patro, CEO and Co-Founder Recordent Pvt Ltd said, “Celebrating the dawn of a transformative era, the launch of the Credit Registry platform marks a pivotal moment at Recordent. Businesses utilizing Recordent’s Credit Registry have witnessed a remarkable 25% enhancement in their collections. Statistical data indicates that, owing to the Recordent Credit Registry Platform, 50% of collections are received punctually, with an impressive 87% seeing substantial improvements in collections post-platform notifications. This revolutionary tool is set to redefine the landscape of credit management in India.”

At its core, Recordent’s Credit Registry aims to enable businesses to meet & improve their financial responsibility. The Registry compiles buyer data from multiple sellers. When a seller seeks to partner with a new buyer, they can review the buyer’s credit profile upfront. This enables informed decisions on collaboration.

The platform also sends payment notifications when a seller reports a buyer, educating them about late payment consequences. This encourages timely payments and speeds up debt recovery. Ultimately, this fosters a robust financial ecosystem where businesses trust and depend on each other without any doubt.