MicroFinance Institution to develop acquisition, behavioral, and collections risk models using the platform

Kolkata (West Bengal) [India], October 4: Leading global AI-powered credit decisioning platform provider Scienaptic AI announced today that Arohan Financial Services Limited, India’s leading NBFC-MFI has selected its predictive modeling platform for sharper analytical decisioning. This kick-starts Arohan’s vision to start using AI across the board to make sharper analytical decisions.

Using Scienaptic’s AI decisioning engine, Arohan can build machine learning models for credit underwriting, collections, behavioral modeling, early-warning signals, and perform various other types of customer and HR analytics. The immediate use-cases will be in using AI for sharper credit decisioning and portfolio monitoring.

Arohan Financial Services Limited, an Aavishkar Group company, is a leading NBFC-MFI with operations in the financially under-penetrated low-income states of India. Arohan provides income-generating loans and other financial inclusion-related products to customers who have limited or no access to financial services. The company operates in 14 states through 740 microfinance branches serving more than 2 Mn customers.  Scienaptic’s zero-code AI auto-model builder platform will help Arohan quickly build sophisticated AI/ML models without having to write complex codes, thereby democratizing the process of AI model building within the analytics organization.

“Our goal is to empower the under-served households by offering a range of financial services in a sustainable manner, and we believe that AI can help us achieve this goal of increasing credit access to the underserved while minimizing our risk,” said Mr. Manoj Nambiar, MD at Arohan Financial Services Limited. “Scienaptic’s platform will help us quickly build and refresh models to predict various events across the customer journey and uphold our values of innovation and customer-centricity.”

Correspondingly, Pankaj Kulshreshtha, CEO of Scienaptic, said, “We are excited to help Arohan Financial Services pursue their mission of increasing credit access for the underserved population in India. Arohan has always pioneered the use of analytics to derive meaningful insights in the MFI industry. We are humbled to be partnering with them to take this several steps further and disrupt the way analytics is used to provide credit to the deserving while protecting the bottom-line interests of the company.”

Scienaptic AI’s mission is to increase credit availability across the globe by transforming the technology used in credit decisioning. Whether credit union, auto lender, bank, NBFC or fintech, Scienaptic’s AI-native credit decisioning platform enables lenders to constantly improve the quality and speed of their underwriting decisions, helping them reach a greater number of borrowers, including underbanked and underserved individuals, and say “yes” more often, without increasing risk while addressing all Regulatory aspects especially Fair lending and explainable adverse actions.

The company’s AI platform is used by lenders of all sizes, integrating seamlessly with their existing systems. Scienaptic-enabled lenders have processed more than 190 million transactions worth $36 billion in credit decisions, benefitting millions of borrowers, and helping them get access to the credit they need. For more information, visit http://www.scienaptic.ai

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