KreditBee strengthens underwriting process with Digitap solution

By Leandra Monteiro

Digitap.AI, a bootstrapped alternate data-based risk management solutions provider announced its partnership with KreditBee, to offer its services for strengthening FinTech’s underwriting process. Under this association, Digitap will provide KreditBee with the bank statement pull-through Account Aggregator (AA).

As a part of this collaboration, Digitap will offer multiple modes to source the borrower’s bank statements. Further, it will provide a comprehensive analysis of the raw bank account statements and provide the variables required in the underwriting process.

During the trial phase, Digitap helped KreditBee to source over 1 lakh bank statements through the AA framework. By March 2023, Digitap aims to help KreditBee fetch most of their bank statements via AA module. The FinTech player is witnessing a faster loan sanction process using Digitap’s solution, as it has become easier and convenient for customers to provide their bank statements.

On the association, Nageen Kommu, Founder, Digitap said, “We are excited to associate with KreditBee, and assist them in going live on Account Aggregator framework for effective loan sanction process. As a certified Technology Service Provider, we have built capabilities to assess financial data and improve credit decisioning for financial institutions. We look forward to being an active contributor to the financial ecosystem and support the country’s financial inclusion imperative.”

Madhusudan Ekambaram, CEO, KreditBee, said, “Our association with Digitap is a crucial one, as it has helped us improve our risk assessment and underwriting processes. This partnership will allow us to offer our customers more options and better access to credit. We are in advanced stages to utilize the full potential of Account Aggregator framework, through which we aim to strengthen the entire loan disbursal process.”