Serving the Financially Underserved: Inditrade to Deploy Scienaptic's Decisioning Engine to Power SME Credit Decisions
Jul 25, 2021
Leading global AI-powered credit decision platform provider, Scienaptic AI, announced that Inditrade Capital has chosen to implement the company's credit decisioning platform and predictive risk scorecards to enhance their SME credit decisioning.
Inditrade Capital is a digitally driven fintech group that seeks to leverage technology to serve the financially unserved and underserved. With a mission to “Finance Progress” at the individual, community and national level, it offers financial solutions through its diverse business verticals. Through a combination of digital reach and brick and mortar outlets, the group has a fast-growing presence across India.
Through this deployment, Scienaptic’s platform will enable credit decisions by leveraging alternate data powered scorecards to provide a 360o view of the customer. These scorecards will be based on bank statements, financial statements, GST data and bureau data. Inditrade will also use Scienaptic’s credit decisioning engine to configure policies and approval strategies for instant decisioning.
“Small and medium enterprises are a force to be reckoned with, but until recently, there was immense disparity between the credit available to large corporates and smaller enterprises,” said Sudip Bandyopadhyay, Group Chairman, Inditrade Group of Companies. “Using Scienaptic’s AI, we will bridge this gap and make credit more accessible to deserving entrepreneurs. It will enable us to use more data thereby, approving loans faster and more efficiently.”
"We are very pleased to work with Inditrade in supporting the credit financing needs of SMEs through our AI-powered credit decisioning platform. Our platform will enable Inditrade to approve more borrowers while reducing losses, analyze portfolio performance at a granular level and react quickly to external changes. We look forward to partnering with Inditrade in its mission to ‘Finance Progress,’” said Joydip Gupta, Head of APAC Business.
Abhishek Mehra, Head of MSME Finance at Inditrade and Nitin More, Business Director at Scienaptic, will collaborate closely to ensure that the deployment delivers on business objectives of improving speed and effectiveness of credit approvals while enhancing borrower experience.
About Scienaptic AI
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 improve the quality of underwriting decisions constantly. This enables them to say yes to borrowers more often and faster. Visit https://www.scienaptic.ai for more information.