India PR Distribution
New York [US]/ Bangalore (Karnataka) [India], October 15: Scienaptic AI, a leading global AI-powered credit decisioning platform provider, today announced that InPrime Finserv, has chosen its AI-powered platform to enable sharper credit decisions through Scienaptic's AI models and execute on credit decisioning policies on the platform's in-built Credit Rule Engine (BRE).
InPrime Finserv, a PSL (Priority Sector Lending) lender, is focused on providing essential financial services to India's emerging middle class, particularly within the informal economy. Targeting around 50 million households with an annual credit need of Rs. 5 Lakh Crores, InPrime aims to support this segment by offering customized financial products tailored to their evolving needs. Combining traditional lending methods with digital innovation, InPrime emphasizes customer-centric solutions, swift turnaround times, and comprehensive risk management, while promoting financial empowerment through digital literacy programs. Scienaptic's platform will enable InPrime to seamlessly read and integrate bureau and Account Aggregator data, execute its credit decisioning policies, and leverage AI models for bureau and Account Aggregator scores.
"At the heart of our mission is the financial upliftment of India's emerging middle class. This is more than just providing credit; it's about empowering millions of hardworking families with the tools they need to grow and thrive. Our partnership with Scienaptic AI marks a significant step forward in our journey," said Rajat Singh, CEO of InPrime Finserv. "The platform will bring in capabilities to pull credit bureau reports and incorporate Account Aggregator data instantly, run that data through AI models, and deliver full-fledged real time credit decisions including loan limit assignments, and detailed policy reasons. This will enhance our ability to provide more accurate and timely credit decisions, ultimately improving credit access and customer experience while minimizing risk."
"At InPrime, we are thrilled to partner with Scienaptic, as we see a shared vision and alignment in leveraging synergies that empower us to fully harness the power of machine learning and AI. With Scienaptic AI, we are deploying advanced behavioral models that deliver deeper insights into customer behavior, enabling us to drive more intelligent and personalized financial solutions," added Sneh Thakur, Co-founder, InPrime Finserv.
"We are excited that InPrime Finserv has chosen us to support their mission of financial upliftment," said Joydip Gupta, Head of APAC at Scienaptic. "Through our platform, InPrime can seamlessly integrate application details, credit bureau data, and Account Aggregator insights via API. Our AI models will process this data in real time, delivering precise credit decisions, loan limits, and policy recommendations. Our inbuilt Business Rule Engine (BRE) will remove the friction points in the underwriting process to enable fast and flexible loans via a fully digital process. These advanced capabilities will empower InPrime to make faster, data-driven decisions, drive financial inclusion, and bring responsible and timely credit to millions of emerging middle-class households across India."
About Scienaptic AI
Founded in 2014, Scienaptic AI was built with a mission to drive financial inclusion at scale through AI-driven credit decisioning. The platform encapsulates a decade of technological innovations, integrating more data into decision-making processes, utilizing advanced machine learning algorithms, and supplementing them with rigorous risk and fair lending monitoring processes.
Used by India's largest microfinance institutions (MFIs), leading non-banking financial companies (NBFCs), prominent fintechs, and major banks, Scienaptic processes over Rs85,000 crore in loan decisions every quarter. This enables millions of underserved individuals with limited or no credit history to access personal loans, credit cards, vehicle loans, MSME loans, and MFI loans.
Scienaptic's credit BRE platform puts robust underwriting capabilities at the fingertips of in-house underwriting teams. Today, more than 145 lenders rely on Scienaptic's platform to enhance the accuracy and efficiency of their underwriting.
For more information, visit www.scienaptic.ai
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