Site icon FinTecBuzz

Profectus Capital Goes Live With Scienaptic AI’s Platform

Profectus Capital

Scienaptic AI, a leading global AI-powered credit decision platform provider, announced today 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. Moving forward, Scienaptic will also use its AI technology to determine risk patterns in Profectus’ customer behavior 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.”

For more such Updates Log on to https://fintecbuzz.com/ Follow us on Google News Fintech News

Exit mobile version