68% of India's adult population are termed as 'credit invisible' i.e. they do not have traditional credit scores. This means that they are not able to access loans offered by traditional finance institutions. To help the underserved gain access to loans at low interest rates, we built a P2P lending platform that leverages the power of AA to build a community-based lending network. Idea is to enable users to join lending communities similar to ‘chit funds’ or cooperative banks and offer loans to each other. It is a perfect demonstration of how technologies like AA and Equal's ID Gateway can empower underserved populations with financial identities, transparent credit assessments, and accessible services.

Each user will be assigned a 'DigiChit Score', built by thoroughly analysing the users' financial data sourced through AA. This score grants users access to communities consisting of similar user profiles. Once accepted into a community, the user will make monthly deposits towards the community fund. This community fund is invested in some low-risk instruments like FDs and the interest earned can be distributed proportionally in the community. When in need of large sums, a user can request for a loan from the community fund. Once the loan is disbursed, the user will make monthly repayments back towards the community, and the interest levied will be distributed amongst the other community members.

The DigiChit Score plays a key role in promoting financial discipline and awareness by providing users with a clear, data-driven view of their financial health. Consistent monthly deposits and loan repayments will help users gain access to communities with higher funds and lower interest rates. The powerful analytics also helps the underserved gain a complete understanding of their finances, increasing financial awareness. Over time, this will help the larger part of the population to become credit visible, increasing the overall amount of credit issued in the country.