Empowering children's future: Varthana and Scienaptic partner to transform school loan access
Nov 11, 2020
Scienaptic, world's leading credit decisioning platform provider announced deployment of its platform at Varthana. This partnership will enable Varthana to use AI to make sharper credit decisions for schools that apply for business loans.
Varthana works with schools across 14 states in India. More than 3,500 schools have benefited from Varthana loans, impacting over 2.5 million children. Through Scienaptic's AI-enabled credit underwriting solution, credit access to schools will be further streamlined. Many more schools will now have easier access to funds, leading to quality education at grass root levels.
Joydip Gupta, APAC business head of Scienaptic says, "We are really excited to help Varthana increase credit approvals while reducing delinquencies. Early results are very promising, and we hope to build on it as we test-and-learn on Scienaptic decisioning system. We are very fortunate to be a part of Varthana's endeavour to expand the reach of education to the masses."
Quote from Vathana.
Steve Hardgrave, Founder CEO of Varthana says, "We have long been looking for data driven credit decisioning solutions to augment our on-site interview based credit underwriting processes. We chose Scienaptic because it was the most evolved offering available. We also wish to thank our investor Kaizenvest for making this project a reality.
Founded in 2013 by Steve Hardgrave and Brajesh Mishra, Varthana is a Bangalore based Non Bank Finance Company that offers loans to affordable private schools for infrastructure development and to students for domestic higher education programs.
Scienaptic is the world's leading AI-powered Credit Underwriting Decisioning platform company. Designed by seasoned CROs, its platform is creating industry-leading business impact in terms of lifts such as agile strategy optimization, higher approvals (15-40%), and lower credit losses (10-25%). Scienaptic's clients include Fortune 100 banks, NBFCs, and Fintechs.