Inditrade goes live with Scienaptic’s AI-powered credit decisioning platform

By Edlyn Cardoza

Recently, a leading global AI-powered credit decisioning platform provider Scienaptic AI announced that Inditrade Capital, one of India’s fastest growing digitally enabled lending, insurance and rural marketing enterprises, is live on its platform. The Scienaptic platform will also have Scienaptic’s industry-tested expert scorecards that accurately predict a customer’s risk based on a bureau, banking and financial information. This solution will enable faster and better loan decisioning and approvals to foster the growth of the Micro Small and Medium Enterprises (MSME) sector in India.

Inditrade Capital leverages technology to enable progress for the under-served and marginalised. Intending to create a sustainable social impact at the grass-root level of India’s enterprise ecosystem, Inditrade has lent over 28 billion INR in cumulative loans to over 400,000 customers. Inditrade offers a Phygital channel to ensure last-mile connectivity. By enabling Scienaptic’s AI-powered credit underwriting platform and industry-tested expert scorecards, they will be able to provide better and faster credit access to a broader cross-section of the society and empower the 63 million MSMEs in India that often have limited access to financial assistance.

“When we see an individual’s entrepreneurial dreams actualizing, it is extremely satisfying. A young woman pressed by financial shortcomings and personal losses, getting back on her feet and supporting her family with the help of our MSME loan is extremely uplifting,” said Sudip Bandyopadhyay, Group Chairman of Inditrade Group of Companies. “Scienaptic’s credit decisioning solution is now helping us make the most of our customer’s information to understand our customers risk better. As a result, we will be able to provide our customers with the right amount of credit, while ensuring our portfolio losses are minimized.”

Correspondingly, Joydip Gupta, APAC Head of Scienaptic, said, “It is an exciting time for FinTech in India. As an industry leader, Inditrade Capital provides the perfect platform for Indian citizens and MSMEs across urban and rural areas to achieve their entrepreneurial aspirations. Our credit underwriting platform and our AI-based scorecards will enable Inditrade to extend its loans to more individuals and businesses who are often ignored under the traditional financial system while balancing growth and profitability.”