With its proprietary technology, Datacultr, a Platform-as-a-Service(PaaS) provider, is enabling leading Non-Banking Financial Companies (NBFCs) in India to meet new credit demands and ensuring the sector moves forward with the same vigor post- lockdown.
In India, millions of migrant workers with no other sources of income and low or no savings have been displaced and are battling to survive. Hence, the need of the hour is to provide financial support to these people. In this situation, NBFCs are actively working out for solutions to disburse small ticket size loans. Moreover, using Datacultr’s machine learning technology, they are able to reduce their risk on lending to this segment. Datacultr equips them with its Predictive Fraud Management and Collection Digitization solutions.
Commenting on the same, Neel Juriasingani, CEO and Co-founder, Datacultr said, “The way COVID-19 disaster impacted the businesses and the economy, it has created a liquidity crunch in the ecosystem. At this time, a healthy and growing NBFC sector is an important pillar to facilitate the increased credit demand in the economy. Using technology, they can further strengthen their business model, and ensure continuous flow of credit for micro, small and medium enterprises as well as individuals and contribute significantly to financial inclusion in the country”.
Datacultr empowers financial institutions with effective collections solutions and supports them to expand their books to ‘New to Credit’ across nooks and corners of the country. It’s proprietary product has enabled NBFCs to connect with its customers, using their mobiles devices throughout the tenure of the loan. Allowing them to make data-driven behavioural interventions throughout the life-cycle, to communicate, remind, educate & in gradual impairment of the device experience, if a user defaults.
Datacultr is a PaaS that allows consumer lending companies to significantly reduce their risk on ‘New to Credit’ customers. Datacultr allows the lender to give out unsecured loans, at a lower risk, by allowing borrowers to present their newly purchased or existing Smartphone as collateral.
For the Unbanked & Underserved user, such loans that ride on Datacultr’s technology begin their journey of building a robust credit score, enabling access to bigger loans in the future.
Datacultr is part of Microsoft for Startups & Google Cloud for Startups. It is the winner of Emerge 50, 2018 award, given by NASSCOM to India’s Most Innovative Top 50 Emerging Software Product Companies. Moreover, it was recognised by the Haryana Government for product excellence in 2019 and also won the prestigious Red Herring 2019 Top 100 Asia award. The team consists of well-experienced members from the telecom and mobile OEM space, with a deep understanding of consumers in emerging markets and have vast expertise in building scalable technology platforms.