Truly International News Journal

Truly International News Journal

Thursday, October, 6, 2022

Press Release

Inditrade Goes Live With Scienaptic’s AI-powered Credit Decisioning Platform
I





Bangalore, Karnataka, India:
 

Leading global AI-powered credit decisioning platform provider Scienaptic AI announced today that Inditrade Capital, one of India’s fastest growing digitally enabled lending, insurance and rural marketing enterprise is live on its platform. The Scienaptic platform will also have Scienaptic’s industry-tested expert scorecards that accurately predict a customer’s risk on the basis of bureau, banking and financials information. This solution will enable faster and better loan decisioning and approvals to foster the growth of the Micro Small and Medium Enterprises (MSME) sector in India.


 

Inditrade Capital leverages technology to enable progress for the under-served and marginalized. With an aim to create a sustainable social impact at the grass-root level of India’s enterprise ecosystem, Inditrade has lent over 28B INR in cumulative loans to over 400,000 customers. Inditrade offers a Phygital channel to ensure last-mile connectivity. By enabling Scienaptic’s AI-powered credit underwriting platform and industry-tested expert scorecards, they will be able to provide better and faster credit access to a wider cross-section of the society and empower the 63 million MSMEs in India that often have limited access to financial assistance.


 

“When we see an individual’s entrepreneurial dreams actualizing, it is extremely satisfying. A young woman pressed by financial shortcomings and personal losses, getting back on her feet and supporting her family with the help of our MSME loan is extremely uplifting,” said Sudip Bandyopadhyay, Group Chairman, Inditrade Group of Companies. “Scienaptic’s credit decisioning solution is now helping us make the most of our customer’s information to understand our customers risk better. As a result, we will be able to provide our customers with the right amount of credit, while ensuring our portfolio losses are minimized.”


 

Correspondingly, Joydip Gupta, APAC Head of Scienaptic, said, “It is an exciting time for FinTech in India. As an industry leader, Inditrade Capital provides the perfect platform for Indian citizens and MSMEs across urban and rural areas to achieve their entrepreneurial aspirations. Our credit underwriting platform along with our AI-based scorecards will enable Inditrade to extend its loans to more individuals and businesses who are often ignored under the traditional financial system, while balancing growth and profitability.”


 

About Scienaptic


 

Scienaptic is on a mission to increase credit availability by transforming technology used in credit decisioning. Over 150 years of credit experience is embedded in Scienaptic’s AI native credit decision platform. Our clients across banks, credit unions, fintech, and other lenders use the platform to constantly improve the quality of underwriting decisions. This enables them to say ‘yes’ to borrowers more often and faster. The platform is used by lenders with assets exceeding $100 billion, enabling them to process over $22 billion in credit decisions, benefitting over two million credit union members and millions of borrowers across banks, auto and online lenders. For more information, visit http://www.scienaptic.ai.


 


 



Disclaimer: This Press Release has not been vetted or endorsed by The Eastern Herald's editorial staff.

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