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iSCAN Current Account Verification Check

Summary view of credit facilities availed by the entity such that the lending institutions can take an informed decision regarding opening of a current account.

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Key Features of iSCAN Current Account Verification Check

CIBIL iSCAN is a first-of-its-kind offering for the Indian market that leverages TransUnion CIBIL’s vast repository of Commercial Bureau information to provide lending institutions a precise credit profile details about their Current Account applicants.

Secure more profitable prospects

Expand your universe of good prospects by leveraging a more comprehensive view of consumers and businesses and arm yourself with the analytics you need.

Verify identities

Gain a competitive edge by detecting even the most sophisticated fraud while providing outstanding seamless customer experiences.

Improve credit decisions

Review credit histories with greater precision and make the right offer to the right party through the right channel at blazing speed.

 Overview iSCAN Current Account Verification Check

Pursuant to the Reserve Bank of India circulars on current account opening - Opening of Current Accounts by Banks - Need for Discipline (RBI/2020-21/20 DOR.No.BP.BC /7/21.04.048/ 2020-21, RBI/2020-21/79 DOR.No.BP.BC.30/21.04.048/2020-21 and RBI/2021-22/116 DOR.CRE.REC.63/21.04.048/2021-22), iSCAN report helps the scheduled commercial banks get precise credit information and attributes on the existing credit relationship of the borrower across the banking system.

Benefits to banks:

  • Identification of existing  Cash-credit (CC)/ Overdraft (OD) relationship
  • Strengthens the process of opening of Current Account
  • Easy access to unbiased, objective view on the credit footprint of the borrower
  • Easy to use attributes and decision flags in accordance to the regulatory circulars

API under iSCAN Current Account Verification Check

Pick one or more data blocks from our identity verification bundle.
Get details instantly over API with industry best response times.

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