Tag: Datacultr

Business World

Datacultr successfully enabled NBFCs to disburse loans worth INR 500 Cr in the last 12 months

Nov 3, 2020 by Gouri Achary 0 Comments #Datacultr, #debt collections, #financial institutions, #NBFCs, #Neel Juriasingani, #Telecom operators

Datacultr, one of India’s fastest-growing startups that provides a one-of-its-kind risk management & debt collections platform to financial institutions has helped NBFCs and Telecom operators secure loans worth INR 500 Cr since Apr 2019. The major chunk of this loan amount has been disbursed to ‘New-to-credit’ and HIgh-Risk customers.

“The new-to-credit customer group has been ignored for a long time because of the high-risk profile of these borrowers. With our ML algorithms, we have been able to equip lending companies Banks, NBFCs, Telecom Operators, and MFIs to securely lend to this underserved segment. Backed by our technology, these institutions are better positioned to lend to different segments whether it’s tier 1, 2 or tier 3, 4. Without any hesitation, they can expand the horizon of their financial services to every nook and corner of the country. This further enables them to bring financial inclusion in the economy” says Neel Juriasingani, CEO and Co-founder, Datacultr.

In order to expand the horizon of financial inclusion, Datacultr has enabled financial service providers to recognize new business opportunities and work out coherent strategies. Its Machine learning algorithms are built to cater to the specific needs of the lender. These models help the lender to gauge a customer’s propensity to pay and build strategies to achieve specific objectives- delinquency prevention, default prevention or to improve agent productivity.

Today Datacultr works with some of India’s largest NBFCs and global telecom operators. It very well understands the pain points of the lender and is dedicated to predominantly addressing the same since 2019. The company is focused on filling the credit gaps in the ecosystem. Earlier, financial institutions were lending in a limited market owing to the chances of increasing NPAs. However, in a major milestone, Datacultr has helped reduce the NPAs for financial institutions significantly.

By turning the borrower’s smartphone into virtual collateral for lending companies, Datacultr’s proprietary product provides the lender seamless access to the borrower throughout the tenure of the loan. The platform allows the lender to segment the customers based on their risk profile, financial understanding, and literacy levels, helping them build empathetic communication plans that result in lower default rates and NPAs. The platform also makes borrowers aware that timely repayment helps in building their credit score which in turn can get them access to a bigger loan in the future.

Business World

Datacultr strengthens its ML platform to help financial institutions gear up for loan collection exercise

Aug 6, 2020 by Gouri Achary 0 Comments #‘New-to credit-Customers’, #CEO and Co-founder, #Datacultr, #Neel Juriasingani, #NPAs

New Delhi, 06 August 2020: Datacultr, a one-of-its-kind platform that allows consumer lending companies to reduce risk on ‘New-to credit-Customers’ has enhanced and strengthened its technology on its key solutions – predictive fraud management and collection digitization. The new features include dynamic behavioural templates, that are built to help financial institutions effectively manage customer life-cycles, that bring in greater efficiencies to their loan collection processes, especially in the current environment.

COVID-19 has led to a huge disruption in economic activity and rendered many people jobless. In this scenario, financial institutions have a new challenge, i.e, collection/recovery of the loan amount. Identifying this challenge well in time, Datacultr has strengthened its AI and ML capabilities to help financial institutions make smarter decisions and increase collection efficiency.

Commenting on the same, Neel Juriasingani, CEO and Co-founder, Datacultr said- “The past few months have been challenging for the world. As the new normal calls for contact-less customer engagement, lenders are rethinking their operations and processes. Several traditional lending companies including banks are looking to ramp up their collection processes and are becoming more receptive to technology. We have seen heightened interest for our platform from lenders extending all sorts of loans. We are jointly exploring how they can integrate and use our platform in a bid to avoid bad-loan build up in current times.”

“In the past, we have helped financial institutions to reduce the costs involved in the collection process while also reducing their NPAs”, he further added.

For its unique capabilities and ability to affect bottom-line results, Datacultr has been trusted by some of India’s largest consumer lending companies to optimise and standardise their debt collection activities. The company is playing a vital role in enhancing Lender’s Collections processes, including data-driven customer journeys that ensure effective experiences are built on the basis of customer segments, attitudes, Credit Scores, financial literacy or payments history.