Birlasoft Ltd [BSE: 532400, NSE: BSOFT], part of the USD 2.4 billion diversified, The CK Birla Group, announces a strategic partnership with Namaste Credit (Open doors Fintech Pvt. Ltd.), a leading fintech that offers full-stack Banking-as-a-Service solutions to banks and other financial institutions globally.
Birlasoft and Namaste Credit will work together to provide banks and non-bank lenders with a range of benefits in their small business and retail loan operations by leveraging Namaste Credit’s industry-leading AI and automation platform, including:
- Attracting and retaining high-value customers
- Reducing loan application review & decisioning times by over 90%
- Enabling fully digital onboarding & client engagements resulting in more rapid loan growth
- Significantly enhancing credit analytics by being able to use 10-100x more customer data points
- Improving Efficiency Ratios 3-10% by increasing the productivity of sales, credit and risk departments
By bringing together Birlasoft’s expertise in building, integrating, modernizing and maintaining Lending and Leasing systems, as well as Risk Management systems for banks and financial institutions, and Namaste Credit’s cloud-based SAAS platform for client onboarding, underwriting and risk monitoring, the partnership will enable lenders to leverage their existing systems and processes, while accelerating their digital transformations and streamlining their operations and data management.
“By partnering with Namaste Credit, Birlasoft is bringing its clients best-in-class solutions from one of the leading small business-focused fintechs globally”, said Shilpa Bhandari, Senior Vice President & Global Head, Banking, Financial Services & Insurance, Birlasoft.
Namaste Credit has been recognized as one of the top 100 Fintechs by KPMG and was the only company to be a finalist at Amazon AI for the past 2 years.
“Namaste Credit is partnering with Birlasoft given its deep ties into global financial institutions and strong capabilities to integrate our cutting-edge technologies into these institutions in a completely seamless manner,” said Lucas Bianchi, COO & Co-Founder of Namaste Credit and CEO of the international operations, Open doors Global Fintech.
Namaste Credit’s Intelligent Credit Assessment Model (iCAM) platform works seamlessly with lender systems via standardized APIs. Its core modules allow lenders to enhance the scope, speed, and quality of credit analytics. The platform combines digital data streams with data extracted from analogue and digital documents using a proprietary format-agnostic OCR engine. Data is then cleansed and analyzed using several purpose-trained AI algorithms and customized NLP libraries, resulting in actionable metrics and insights for business, credit and risk systems & teams.
“Banks and lenders across the globe are embracing our full-stack Banking-as-a-Service solutions to not only augment their incumbent credit and risk decisioning systems but also better serve customers through superior customer experience & a seamless digital journey,” said Gaurav Anand, CEO & Co-Founder of Namaste Credit.