Financial Institutions to drive higher sales for consumer durables this festive season, riding on Datacultr's risk management stack
Oct 23, 2023
PNN
New Delhi [India], October 23: Datacultr, an eminent leader specializing in risk management and digital debt collection, is projected to considerably transform lending procedures for Financial Institutions amidst the upcoming festive season. Through proficient utilization of Machine Learning (ML) and Artificial Intelligence (AI) capabilities within Datacultr's platform, financial establishments are anticipated to witness a significant enhancement in loan approval rates, estimated at an impressive 57%.
With the imminent festive season, banks and finance corporations foresee a substantive increment in retail credit demand. Datacultr strategically enables lenders to proficiently serve New-to-Credit Customers within the consumer durable loans domain, assisting them in executing faster and more secure lending verdicts.
Further, Datacultr's platform expedites collection efficiency for Financial Institutions by meticulously streamlining and automating collection processes. Institutions that have integrated Datacultr's platform have observed a remarkable quadrupling in collection efficiency, enabling them to recuperate outstanding payments with augmented efficacy, which in turn, enhances cash flow and mitigates credit losses.
Neel Juriasingani, Chief Executive Officer at Datacultr, remarked, "We are elated to furnish Financial Institutions with the means to augment loan approval rates in the ensuing festive season. Our platform assists banks and financial institutions in amplifying collection efficiencies, curtailing delinquencies, and mitigating the implications of Non-Performing Loans (NPLs). Through strategic exploitation of digital technology, we aspire to redefine norms pertaining to risk management and debt collection across the global financial sector."
Datacultr's exemplary achievements are evinced through its partnerships with financial institutions spanning India, South Asia, South East Asia, Africa, and LATAM. The company collaborates with all major Financial Institutions in India, that offer consumer durable loans, offering its clients an efficient, accessible, secure, and economically viable platform to provide loans to the low-middle income segments across India and emerging markets. Possessing a robust presence across four continents, Datacultr has enabled banks and financial institutions to extend loans totaling over $ 1.5 billion (Rs 12,300 crore) as of Sep 2023.
Datacultr is a global Digital Operating System for Risk Management and Debt Collection, it drives collection efficiencies and reduces delinquencies and Non-Performing Loans (NPLs). Datacultr is a digital-only provider of risk management, consumer engagement, recovery, and collection solutions, helping consumer lending, retail, telecom, and Fintech organizations since 2020. The Datacultr platform makes the underserved and unbanked segment viable, for the providers of Buy Now Pay Later, Micro-Loans, Nano-Loans, and other unsecured loans. Datacultr is the winner of the Red Herring Asia Global100 Award, 2022, Inclusive Fintech50- 2021, and Red Herring Asia Top100 Award, 2019; it has also been recognized in multiple forums as the best digital collections platform.
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