Rishyasringa says that Capital Float’s credit-scoring algorithms, which lets applicants on its mobile app or website find out quickly if they qualify for a loan, uses hundred of data points from traditional sources like financial statements and bank account data, as well as other online platforms (including social media), which are “becoming increasingly available with the rapid pace of the digitization of the Indian economy.” Capital Float currently claims a default rate on its overall portfolio of less than 0.5 percent, compared to the more than 2 percent to 3 percent rates seen by SME loan books in India, he adds.

http://techcrunch.com/2016/05/12/capital-float-b/