TRST Score has partnered with Sa-Dhan, an association for microfinance companies, and the finance industry development council (FIDC), an association for all NBFCs to enhance trust and transparency in the workplace by encouraging the reporting of any instances of unethical behaviour.

The partnership of TRST Score with FIDC and Sa-Dhan is expected to address an issue of trust in the BFSI sector involving the participation of numerous avatars of people in the business ecosystem, including clients, employees, agents, and gig workers. 

According to the company statement, human risk problems cause businesses to lose up to five per cent of their income on average and cost the industry Rs. 10 lakh crore in losses. By virtue of this partnership, all businesses are gathered on a single platform by TRST Score as part of a collaborative effort to reduce these risks by making sure they hire a trustworthy workforce using TRST Score as an aid.

Commenting on the partnership, Sudhakar Raja, Founder and CEO of TRST Score, said, ‘’In order to solve numerous human risk-related challenges like fraud, absconding, accepting offers and not joining and multitudes of such issues, the SAAS-based TRST Score was created. Our collaboration with two reliable institutions will improve our system for measuring human trust by utilising the expertise of the financial supervisory agency. As a result, we will provide our users with a system that is more trustworthy and secure for managing their financial data. We are dedicated to collaborating with them to stipulate innovative solutions that also comply with international standards of privacy.’’ 

Mahesh G. Thakkar, Director General, FIDC, “FIDC has partnered with TRST Score as it addresses HR-related issues NBFC members face in an effective manner. The industry can save a lot of money and resources by sharing information pertaining to its workforce. The NBFC industry workforce is of several types such as Employees, DSAs, Collection Agents, Surveyors, Valuers, Customers, etcetera. all need to be risk mitigated and TRST Score offers a unique solution that can help our member companies solve this problem.” 

Jiji Mammen, Executive Director and CEO – Sa-Dhan said, “Microfinance sector is a human resource-oriented industry. Therefore, it is also prone to high levels of human risk issues and there is a need for appropriate tools to mitigate these problems. TRST Score is an initiative to create scoring for the employees, based on the actions and behaviour.”