Transunion Cibil ties up with KPMG to offer employee and business credit risk check

Credit information Company TransUnion CIBIL has tied up with consultants KPMG to facilitate employee and business credit check and verification which would be an additional input in providing credit report. This initiative is a part of Cibil’s employment screening and due diligence offerings.

The tie-up aims to help the credit bureau in arriving at an holistic view of a business and candidate’s financial profile, a release by the company said. Employers use credit reports to judge how responsible and financially stable a candidate is. An individual who is credit impaired is more likely to indulge in frauds than an individual who is financially disciplined. This initiative is expected to help in strengthening internal controls along international standards.

A standard practice internationally, the demand for conducting employment credit checks is now increasing in India. It enables employers to make quick, consistent decisions based on pertinent financial behavioral information not typically included on a job application. It not only helps an employer identify candidates and employees who may be financially overextended but also helps to mitigate the risks posed to a business by individuals under financial stress.