The company’s team in Toronto is actively working on a system that can be relied upon by banks to ascertain the credibility of a loan-seeker. Paytm CEO Harinder Takhar said the mechanism would go a long way in aiding banks to determine whether it would be safe to grant a loan to an individual.
Paytm’s Toronto office is working on an algorithm to present a solution. With the number of non-performing assets on the upswing and defaulters escaping clutches of law after duping banks of crores of rupees, banks have become wary of offering loans.
The Toronto office houses the ‘fraud prevention’ team of Paytm. The team of nearly 10 data-crunching experts keep a close eye on the digital purchases being made through Paytm. Any suspicious activity by a client is immediately red-flagged to the team in India.
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