ANI PR Wire
16 Jan 2023, 16 GMT+10
New York [US]/Bengaluru (Karnataka) [India], January 16 (ANI/BusinessWire India): Leading global AI-powered credit decisioning platform provider Scienaptic AI announced today that the largest microfinance institution (MFI) in India, Credit Access Grameen Limited (CA Grameen) has chosen to implement its platform to underwrite loan applications.
CA Grameen commenced operations in the form of an NGO in 1999 in a village near Bengaluru. Over the years backed by a unique operating model and pursuit to serve the bottom of the social pyramid, it grew into the largest MFI under the aegis of Udaya Kumar Hebbar. It has a presence across 14 states and 1 union territory backed by a branch network of 1,684 serving nearly 3.8 million customers with over USD 2 billion gross loan portfolio as on September 2022. CA Grameen will be using Scienaptic's credit decisioning engine, intelligent multi-bureau solution, and repository of risk-predictive bureau variables to underwrite new and existing customers for group loans and two-wheeler loans.
"We at CA Grameen work on the foundations of empathetic, creative, transparent, and efficient credit for the rural population of India. Scienaptic's cutting-edge technology will greatly improve our ability to harness the power of data analytics into lending decisions," said Firoz Anam, Chief Risk Officer at CA Grameen.
Sudesh Puthran, Chief Technology Officer at CA Grameen, further added, "The engine's ability to pull data from external sources, analyze variables, and draw conclusions in real-time will enable us to make faster and more personalized lending decisions, thereby allowing us to match the evolving financial needs of the rural population of India."
Correspondingly, Joydip Gupta, APAC Head of Scienaptic, said, "We are very pleased that C A Grameen has selected us as a strategic partner to support their noble cause of addressing the microfinancing needs of the rural population in India. Our AI-powered credit decisioning platform will enable speed to market, greater automation, and better decisions while minimizing risks. We are confident our platform will be a valuable asset to them and will play a significant role in improving the financial well-being of millions."
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)
Get a daily dose of Myanmar Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Myanmar Sun.
More InformationGUJRAT, Pakistan - According to sources, police raided the home of former Punjab Chief Minister Parvez Elahi in Gujrat early ...
ISLAMABAD, Pakistan - Bilawal Bhutto Zardari, Pakistan Peoples Party (PPP) Chairman and Foreign Minister, said Saturday that Pakistan Tehreek-e-Insaf (PTI) ...
KAREN STATE, Myanmar - According to local sources and media reports, several junta offices in Karen State's Payathonzu town burned ...
KATHMANDU, Nepal - The search for one of the 72 people killed in the Pokhara plane crash is continuing, according ...
DHAKA, Bangladesh - On Friday, authorities claimed to have apprehended a top leader of the banned militant group Harkat-ul-Jihad-al Islami ...
Peshawar [Pakistan], February 2 (ANI): The Pakistan administration was investigating how the Peshawar mosque bomber was able to reach a ...
WASHINGTON, DC - FBI agents on Wednesday searched for classified documents at U.S. President Joe Biden's vacation retreat in the ...
WASHINGTON D.C.: The White House said this week that Tesla Chief Executive Elon Musk met with John Podesta, a Democratic ...
MANILA, Philippines: In an effort to attract more tourists, President Ferdinand Marcos has approved a value-added tax refund program for ...
TRIPOLI, Libya: Italian prime minister Giorgia Meloni held talks on energy and migration in Libya this weekend, which are major ...
MIAMI, Florida: This decade, the US south is expected to see more new residents than any other region in the ...
NEW YORK CITY, New York: After reporting record revenues in the fourth-quarter of 2022, US airlines expect strong travel demand ...