The Credit Information Bureau (India) Limited (CIBIL) today announced the launch of CIBIL Locate Plus – an innovative risk management offering. CIBIL Locate Plus will help member banks to enrich their customer contact information to enhance efficiency of the collections process, improve customer contactability, and achieve better bottom line results.

Locate Plus reports will provide comprehensive information such as customer identification details, customer contact addresses along with the reported dates and all the customer contact numbers available in the CIBIL database.

For banks and credit grantors, the Indian market offers tremendous potential basis its abundant market size and growing economic prospects. However, managing contact information of existing and potential customers proves challenging owing to the huge population and demographic and geographic diversity. Locate Plus gleans the power of CIBIL's information repository to provide the right information at the right time to enable member banks to tap the most promising opportunities to grow business, said a press release from the company.

With CIBIL Locate Plus member institutions can now eliminate the time consuming and costly information management process and enrich their data bank with the most updated and reliable information from CIBIL.

''The launch of CIBIL Locate Plus is the next step for financial institutions in India in improving their customer contact details and optimising their collections process using the power of objective and timely information,'' said Arun Thukral, managing director of CIBIL. ''CIBIL Locate Plus leverages CIBIL's vast and comprehensive information repository to provide its members with comprehensive contact information faster and more cost effectively'', he added. 

CIBIL's updated information will help credit grantors to reduce downstream data and labor costs by locating the right party earlier across the customer credit lifecycle. Finding contact earlier in the collection process, reducing returned mail and minimising outbound calls to disconnected or wrong numbers will positively impact the business productivity and maximise ROI.

CIBIL, India's first credit information bureau, provides knowledge-backed risk mitigation tools to help make objective decisions at every stage of the customer credit lifecycle: acquisition, portfolio management, collections etc.