Scienaptic AI Drives Rs. 85,000 Crore Credit Surge in the last quarter
07th August 2024: Scienaptic AI, a leading AI-powered credit decisioning platform based out of Bangalore and headquartered in New York, reported that Rs. 85,000 crore in loan decisions were processed on its platform last quarter. This substantial volume of decisions enhances credit access for millions of underserved customers with limited or no credit history, spanning sectors such as personal loans, credit cards, auto loans, MSME loans, and MFI loans.
Scienaptic AI’s platform, which leverages traditional and alternate data streams, coupled with cutting-edge AI/ML predictive analytics to make lending decisions, is used by India’s largest MFIs, leading NBFCs, prominent fintechs, and major banks. This growth reflects the burgeoning Indian economy and rising consumer confidence.
“The surge in credit decisioning on our platform is a testament to the growing optimism and economic activity in India. Scienaptic AI is proud to be at the forefront of this growth, enabling financial institutions to make faster, more accurate lending decisions. Our decision engine’s ability to process vast amounts of data and identify hidden patterns is crucial in managing risk and expanding credit access,” said Joydip Gupta, APAC Business Head at Scienaptic AI.
Scienaptic AI’s advanced credit decisioning platform has been instrumental in accelerating loan approvals while effectively managing risk. By leveraging AI and machine learning, the platform empowers lenders to make informed decisions and expand their customer base. To date, it has processed over $76 billion in credit decisions.
Notable companies utilising Scienaptic’s digital underwriting solutions include Cred, DMI Finance, TVS Credit, BharatPe, Credit Access Grameen and Poonawalla Housing Finance.
