back Back

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

By Edlyn Cardoza

April 18, 2022

  • Bureau Data
  • Credit Decision Platform
  • Credit risk
Share

Scienaptic AI, Credit Decision Platform, Profectus Capital, Credit Risk, Bureau data, Financial Statements, SMB, Reserve Bank of India, MSMEs, Mumbai, USAScienaptic AI, a leading global AI-powered credit decision platform provider, recently announced that Profectus Capital is now live on its platform. As a part of Phase-I implementation, Scienaptic has deployed its credit decisioning engine and industry-tested scorecards for Bureau data and Financial Statements to enhance small and medium business (SMB) loan decisions. Scienaptic will also use its AI technology to determine risk patterns in Profectus’ customer behaviour and provide sharper predictive risk signals.

Established in 2017, Profectus Capital is a systematically important non-banking financial company registered with the Reserve Bank of India and headquartered in Mumbai, India. It offers term loans and working capital loans to small-medium enterprises operating in the manufacturing and service sectors. With Scienaptic AI, Profectus aims to strengthen its credit decisioning processes and enhance credit availability to underserved MSMEs.

“Our goal is to be a preferred financial partner for the small-medium businesses of India by providing better credit access to the credit-underserved. We are presently lending to 11 Clusters across 18+ locations and plan to establish a presence in many more states soon,” said Nimesh Parikh, CRO, Profectus Capital. “In support to our mission, Scienaptic AI’s credit decisioning platform will be automating our SMB loan decisioning process and providing intelligent signals to help us scale approval rates while continuing to keep NPAs very low. The platform will be providing a smoother experience for our customers and sharper data driven insights to our underwriters.”

Correspondingly, Joydip Gupta, Business Leader Scienaptic AI, cited, “We are delighted to be working with Profectus Capital to help strengthen the credit and financing opportunities for its clients. Profectus has tremendous domain expertise in MSME/SME funding and are poised to scale their asset base dramatically. We are sure that Scienaptic’s unique, adaptive AI technology will enable the company to serve more SMEs, reduce credit risk and create maximum social impact to the manufacturing and service sectors of India.”

Previous Article

April 14, 2022

3 Islamic Banks making waves in Europe

Read More
Next Article

April 18, 2022

MonetaGo supports ICC Centre for digital trade and innovation initiative

Read More






IBSi Daily News Analysis

Complaints Fraud

May 22, 2024

Bureau Data

UK SMEs lack fraud protection, facing significant financial risks, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 22, 2024

4 Lending platforms facilitating easy access to funds in India

Read More

May 22, 2024

Capchase secures €105m to support financing for SaaS firms in Europe

Read More

May 21, 2024

Suffolk Building Society selects finova to power mortgage offering

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023