Comments on: Crederity – Trust matters.

By: Vivek Garg

Vivek Garg — Thu, 14 May 2009 06:28:13 +0000

@Abhinav - I think employers are going to do their due diligence but if they are working with Crederity and the employee is already verified, it makes it cheaper and easier for both sides. Crederity should try and jumpstart such cross sided networks in various domains.
Crederity is not looking at the financial/credit space (as of now). But I am very interested to see startup innovation in financial standing. It doesnt have to be same model around credit score as we know it.

By: Abhinav astavans

Abhinav astavans — Wed, 13 May 2009 21:04:21 +0000

Will it work? (India Perspective)
1. I am sure there is more to the service but part of it sounds like “background verification”, there are several companies doing this already, more importantly, currently the economic burden of carrying out a background investigation lies with the employer, will it be easy to shift this burden to individuals?
2. Financial side - this area is very hairy, India has some very strong legislation around customer information use, for example, in the bank I worked in about 3 years ago, different records existed for the same customer across different bank systems like cards, loans, deposit accounts, CDs etc. while we had the ability to match customers based on a complicated algo(name, DOB, email, address etc.) across systems, we were not allowed to use this information to make credit decisions because this information was “imputed”
3. Banks in india are now getting together to create credit bureaus like CIBIL - all banks share delinquent customer information and pay per use for a query in the database. How does this impact Crederity
4. In my mind, the key to the success of a system like credit rating in the US is because it drives decisions in a very real way, there is an inventive on the consumer to “build” credit history to get better loan rates etc….similarly in the Indian context it is crucial to setup an ecosystem around service providers (employers/banks?) that will subsidize(?) users with good crederity scores(?)

By: Crederity - Background Check Service | TechRaga

Crederity - Background Check Service | TechRaga — Mon, 27 Apr 2009 08:50:34 +0000

[...] Credit : iLeher [...]

By: Sumit

Sumit — Mon, 09 Mar 2009 14:21:22 +0000

Innovative and a very neat solution of a practical problem. Very solid Business Model. All the best to Crederity Team.