Changing lives with AI: Magma Housing Finance begins its AI journey on Scienaptic platform
Feb 11, 2021
Scienaptic AI, the world's leading AI-powered credit underwriting platform provider, announced the deployment of its AI predictive modelling platform at Magma Housing Finance. This kick-starts Magma Housing Finance vision to start using AI across the board to make sharper analytical decisions.
Using Scienaptic’s AI decisioning engine, Magma Housing Finance can build machine learning models for credit underwriting, collections, early-warning signals, and various types of customer analytics. The immediate use-cases will be in using AI for sharper credit decisioning and portfolio monitoring.
Using Scienaptic's automated AI credit modelling platform, Magma Housing Finance will be able to increase loan disbursals and reduce its portfolio losses, while providing exemplary customer experience.
"We believe AI can help us achieve our vision of providing best customer experience while accelerating growth and improving our bottomline. Scienaptic’s AI platform has shown great early results and we believe it can help us immensely as we go through our AI transformation."
Manish Jaiswal, CEO & MD at Magma Housing Finance
"We are very excited to help Magma Housing transition to AI-based decisions. We hope to move all decisioning across Magma’s businesses over to AI in a phased manner. Our platform's self-learning AI will help optimize decisions, resulting in higher approvals, lower delinquencies, and superior customer experience."
Pankaj Kulshrestha, CEO of Scienaptic AI
About Magma Housing Finance
Magma Housing Finance is an Affordable Housing Finance Company with National Presence and is a 100% subsidiary of Magma Fincorp Limited. The company has AUM of 3,751 Cr and presence in 19 states with 103 branches and over 34,000 customers as on 31 December 2020.
About Scienaptic AI
Scienaptic AI is on a mission to increase credit availability by transforming technology used in customer analytics and credit decisioning. Over 150 years of analytics experience is embedded in Scienaptic's native AI decisioning platform. Our clients across banks, credit unions, fintech, and other lenders use the platform to improve the quality of underwriting decisions continually. This enables them to say 'yes' to borrowers faster and more often.