Datacultr Strengthens its ML Platform to Help Financial Institutions Gear Up for Loan Collection Exercise

Datacultr, a one-of-its-kind platform that allows consumer lending companies to reduce risk on ‘New-to credit-Customers’ has enhanced and strengthened its technology on its key solutions - predictive fraud management and collection digitization. The new features include dynamic behavioural templates, that are built to help financial institutions effectively manage customer life-cycles, that bring in greater efficiencies  to their loan collection processes, especially in the current environment. 

COVID-19 has led to a huge disruption in economic activity and rendered many people jobless. In this scenario, financial institutions have a new challenge, i.e, collection/recovery of loan amount. Identifying this challenge well in time, Datacultr has strengthened its AI and ML capabilities to help financial institutions make smarter decisions and increase collection efficiency. 

Commenting on the same, Neel Juriasingani, CEO and Co-founder, Datacultr said- “The past few months have been challenging for the world. As the new normal calls for contact-less customer engagement, lenders are rethinking their operations and processes. Several traditional lending companies including banks are looking to ramp up their collection processes and are becoming more receptive to technology. We have seen heightened interest for our platform from lenders extending all sorts of loans. We are jointly exploring how they can integrate and use our platform in a bid to avoid bad-loan build up in current times.”

“In the past, we have helped financial institutions to reduce the costs involved in the collection process while also reducing their NPAs”, he further added.

For its unique capabilities and ability to affect bottom-line results, Datacultr has been trusted by some of India’s largest consumer lending companies to optimise and standardise their debt collection activities. The company is  playing a vital role in enhancing  Lender’s Collections processes, including data driven customer journeys that ensure effective experiences are built on the basis of customer segments, attitudes, Credit Scores, financial literacy or payments history.

About Datacultr

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 a 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 has combined technology with the basic financial service and created a simple and fair offering for those who need it the most.

Datacultr is a 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.

Datacultr enabling NBFCs to Lend to 'New-to-Credit' Customers

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.

About Datacultr

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.

Datacultr Introduces Collection Digitisation for Consumer Lending Companies

Datacultr, a PaaS for consumer lending companies introduces Collection Digitization, which will help in reducing the overall cost of collections. Through an innovative over-the-air communication framework, it improves outreach of a lender to a borrower to nearly 100% and hence, increases the effectiveness of the entire process.

India's Non Performing Loans Ratio stood at 11.2 % in March 2018, compared to that of 9.3 % in 2017. The traditional way in which banks could reach out to these customers was mainly through SMS, Emails, or Agent calls which in most cases are neglected by the customers. Moreover, Lenders have to bear the cost of delay. Hence, there was a need for a platform that can digitize communication in order to reduce costsinvolved in the collection process.

Datacultr’s platform integrates end-to-end with the lent out device on one side and the Lender’s Loan Management System on the other, bringing together the entire ecosystem, making it a successful program for both the borrower & the lender. The self-learning platform helps lenders to program & digitize all communication, that work even when the borrower is offline, out of coverage area or unwilling to pick up calls.

Commenting on the same, Mr. Neel Juriasingani, CEO & Co-founder, Datacultr,“Consumer lending companies need to embrace digitization in their collection systems in order to gain efficiency and cut down on operational costs. As far as loan repayment is concerned, Digitisation is the key to rapidly scale the process, so that the lender can focus on new disbursals. Our solution bridges the gap by not only automating the communication with the borrower but at the same time, also educating them on the benefits of timely repayment.”

The proprietary software provided by Datacultr is built on a combination of core IoT technology, an innovative communication framework & machine learning. The software can remotely manage smartphones given out on loan, by setting up a unique device experience module for the lenders that helps them manage the asset as well as leaverage datacultr’s communication framework.

The software integrates with the Smartphone and provides controlled access of the device to the lender for the tenure of the loan, which the lender uses to reach out to the borrower in case of delays, gradually managing the experience on the device and ultimately locking the device in cases of default.

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 has combined technology with the basic financial service and created a simple and fair offering for those who need it the most.


About Datacultr
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.

Established by Neel Juriasingani and Sujoy Ghosh in 2016, datacultr has a vision of empowering banks and other consumer lending companies, and thus bring more people under the umbrella of financial inclusion.

Datacultr is part of Microsoft for Startups & Google Cloud for Startups. It is the winner of Emerge50, 2018 award, given by NASSCOM to India’s Most Innovative Top 50 Emerging Software Product Companies. It was also recognised by the Haryana Government for product excellence in 2019. 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.

IoT Startup Datacultr Receives Award from Govt of Haryana

Gurgaon-based Datacultr, an IoT middleware platform, has been awarded & acknowledged by Government of Haryana with an ‘Award of Excellence’ for its innovative solutions and brilliance in the IoT space.

Under the Digital Haryana Initiative, 35 startups were selected for mentoring, out of which Datacultr is amongst the top three companies to be awarded for their pioneering work. The Hartron Innovation Hub enables the right environment for startups in Haryana and ignites the spirit of innovation and transformation in them. Datacultr has been a part of Hartron Innovation club and is incubated under the mentorship support of Internet and Mobile Association of India (IAMAI) under its Mobile10X program.

Founded in 2016 by Neel Juriasingani and Sujoy Ghosh, Datacultr is an IOT middleware platform, which aims at making the IOT journey simple, faster and value driven for enterprises. It serves as a single-point-of-contact service provider for businesses that operate in the reality of data-driven and connected economy.

Commenting on the achievement, Neel Juriasingani, CEO & Co-founder, Datacultr, said, “Datacultr’s IoT Middleware platform is powering the Global device/equipment 'as a Service' subscription economy through its four strategic pillars- Technology; End to end project execution; Financing & Insurance; allowing manufacturers (of consumer durables & industrial equipment) and end users to shift business models from CAPEX to OPEX. Besides India, we are working closely with the telcos in Africa and OEMs in Turkey & Bangladesh. We are consistently developing our platform to help our customers stay ahead of the curve in the connected devices space. We are glad to receive the Award of excellence; this encourages us to continue our efforts to build innovative solutions in the fast-paced IoT space”.

Commenting on the same Rajive Gulati, Head, Hartron Multi Skill Development says, “We have set up a state-of-the-art Centre of Excellence for Internet of Things ( CoE-IoT) primarily to help entrepreneurs in the embedded space with lab facility and generate employment. Our focus is on nurturing the startups associated with us; supporting them with government-backed initiatives and also enabling interaction with mentors and experts from various domains. Datacultr is one such startup incubated at the Hartron Innovation Hub at Gurugram and we are glad to see its commendable growth."

Datacultr is a hardware and cloud agnostic IoT Middleware platform, which allows enterprises to take their IoT solutions to market 6X faster, as well as presenting to them new revenue streams by helping them to shift business models from CAPEX to OPEX.