BANGALORE, India—Scienaptic AI, a leading global AI-powered credit decision platform provider, announced that Profectus Capital is now live on its platform.
As a part of Phase-I implementation with Profectus, Scienaptic has deployed its credit decisioning engine and industry-tested scorecards for credit bureau data and financial statements to enhance small and medium business (SMB) loan decisions. Scienaptic said it will also use its AI technology to determine risk patterns in Profectus’ customer behavior and provide sharper predictive risk signals.
“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,” the company stated.
Established in 2017, Profectus Capital is a 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.
“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-plus locations and plan to establish a presence in many more states soon,” said Nimesh Parikh, CRO, Profectus Capital. “In support to our mission, Scienaptic’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.”
“We are delighted to be working with Profectus Capital to help strengthen the credit and financing opportunities for its clients,” said Joydip Gupta, business leader at Scienaptic. “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.”
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