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Rahul Borole Speaks About His Journey From An Ordinary Student To A Successful Photographer And A Social Media Marketer

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Wrong are the people who say backbenchers can’t be bosses. Not every person who is a scholar is meant to be a boss. It all depends upon how smart you are at work. A mediocre student in school, Rahul Borole is now on his way to become a brand by himself. He is a photographer and a social media marketer based in Aurangabad. Owner of RB Social Media Marketing Agency, Borole has many small-scale brands in his clientele and his list is expanding with each passing day. Before getting into social media marketing, he started working as a photographer. A self-learner, Rahul learnt photography by himself and today he has mastered the art in it.

During school, he spent more time in photography than in studies. “I was an ordinary student in school and college. Not a scholar and definitely not someone who got good grades. My inclination was in other co-curricular activities and I realized creativity was what made me happy. I still remember I bought a cell phone in which I clicked pictures, but it was not enough for me. Later, I got my hands on the Canon DSLR camera after which I began my profession as a photographer.” Besides wedding shoots, indoor and outdoor shoots, modelling portfolio and corporate shoots; the young man has also covered events for India’s political figures including Narendra Modi, Amit Shah, Pramod Rathod, Devendra Fadnavis to name a few.

As far as his company RB Social Media Marketing Agency is concerned, it is doing pretty well. A one-stop destination for online marketing, the agency has helped in building an online reputation of many local brands. Rahul being a social media savvy has his presence on almost every social media platform including Facebook, Twitter, Instagram, TikTok and Linkedin. The 29-year old without anyone’s backing has already established himself in the market and now he has got major plans of venturing into other fields as well. We wish this bundle of talent lots of luck and we hope his success streak continues in the coming year as well.

Jenny is one of the oldest contributors of Bigtime Daily with a unique perspective of the world events. She aims to empower the readers with delivery of apt factual analysis of various news pieces from around the World.

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How Conventional Scores Are Stopping Most Millennials From Accessing Credit and How One Company Is Changing That

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Credit scores are a barrier to entry for just about everything for millennials. Trust Science® is taking new metrics into account to expand access to credit with Credit Bureau 2.0®

What’s Keeping Millennials From Accessing Credit?

The concept behind a credit score seems simple enough. It tracks your credit history to see if you’re someone that a bank or lender can trust to pay back a loan. However, conventional credit scores just don’t account for the way that millennials and Gen Z handle their finances.

Even where a person would be fully capable and reliable in paying back a loan, the lack of an established credit score can prevent them from accessing credit, or at least from getting as much as they should be able to. That leaves millennials without an on-ramp into the modern economy and it can also jeopardize access to other “credit gated” necessities like housing.

The way that conventional credit scores are calculated is complex but boils down to 5 essential metrics:

  1. Payment history
  2. Amount owed
  3. Length of credit history
  4. Credit mix
  5. Hard credit inquiries

You can start to see the issue for millennials when you look at what data goes into their credit scores. For one thing, younger people don’t have a long credit history. Even without other factors, simply being young and only having had so much time to build credit puts them at a disadvantage. However, millennials have also been tending to establish credit later in life compared with previous generations, putting them at a further disadvantage.

The most significant issue here is the credit mix. Different types of credit affect credit scores differently, and millennials generally don’t have a favorable mix. While they might have a credit card or two, they generally don’t have mortgages. These are the most beneficial type of credit to have on your credit report, and millennials really have that going against them.

The student loan crisis also plays a big role. Young people today have much higher student loan debts than previous generations, meaning they have a great amount of credit owed. Not only that, but many can begin to fall behind on payments and see that amount grow. This can quickly send a credit score spiraling out of control.

Student loans aren’t the only threat. When young, some people make poor decisions. They could find themselves making credit mistakes very early on and suffering the fact that those mistakes can haunt their score for seven years in general. That means someone at 25 is still paying for a mistake made at the age of 18, even if they’ve been on the up and up ever since.

It’s clear that conventional credit scores weren’t designed with the current landscape in mind and that young people are being negatively affected. But what exactly can be done about this? One company is changing the way that lenders look at creditworthiness to make it possible for millennials to mitigate these issues.

How Credit Bureau 2.0 Fixes Those Problems

Trust Science is an innovative fintech company that has developed Credit Bureau 2.0, a scoring service that acts as an antidote for lenders, offsetting the problems posed by conventional credit scores. Instead of seeing a lack of credit history, a few negative issues from years ago, or a poor credit mix and ending any credit application, Credit Bureau 2.0 considers a wealth of additional data to generate a more accurate credit score.

Credit Bureau 2.0 expands the data used to calculate credit scores, getting the borrower’s consented, permissioned data and/or acquiring Alternative Data in order to reach a more accurate credit score. For example, those applying for credit can use Trust Science’s Smart Consent™ app to divulge their information safely and confidently to Trust Science, which is working on behalf of the lender that is trying to reach a decision about the borrower. By doing so, young people or other people without a credit history in-country can let prudent financial decisions in other areas of their lives demonstrate that they’re trustworthy for greater credit.

The service is available to a wide variety of lenders, including auto lenders, installment lenders, and single-repayment lenders. It’s in their best interest to find more reliable, deserving borrowers to give loans to, so Credit Bureau 2.0 benefits both sides of the transaction.

Trust Science CEO Evan Chrapko says that “Credit Bureau 2.0 isn’t just about giving borrowers access to more credit than they would have had otherwise. It’s about recontextualizing financial data to give both sides–lenders and borrowers–a more accurate and reliable way to enter into loans in the modern economy.”

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