Bangalore, India – Global AI-powered credit decisioning platform provider Scienaptic AI has announced that Inditrade Capital, India’s digitally enabled lending, insurance and rural marketing enterprise is live on its platform. Through bureau, banking, and financial data, the Scienaptic platform can reliably estimate a customer’s risk level, as well as Scienaptic’s industry-tested expert scorecards. By using this solution, the Micro, Small, and Medium-Sized Enterprise (MSME) sector in India will be able to grow more quickly and more effectively.
Inditrade Capital leverages technology to enable progress for the under-served and marginalised. With an aim to create a sustainable social impact at the grass-root level of India’s enterprise ecosystem, Inditrade has lent over INR28B 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 wider cross-section of the society and empower the 63 million MSMEs in India that often have limited access to financial assistance.
Sudip Bandyopadhyay, group chairman of Inditrade Group of Companies, shared, “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.”
Bandyopadhyay added, “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 minimised.”
Meanwhile, Joydip Gupta, APAC head of Scienaptic, commented, “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 along with 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.”