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Tag: Datacultr

  • Datacultr introduces collection Digitisation for Consumer lending companies

    Datacultr introduces collection Digitisation for Consumer lending companies

    MUMBAI: 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.

  • Datacultr introduces Predictive Fraud Management Solution

    Datacultr introduces Predictive Fraud Management Solution

    MUMBAI: Datacultr (a PaaS for consumer lending companies) aims at helping reduce the risk of fraud in consumer lending through its Predictive Fraud Management solution. It is a first-of-its-kind platform that will allow financial institutions to significantly reduce their risk and cost of collections on ‘New to Credit’ customers in the emerging world. With the help of Machine Learning, the platform can identify potential frauds by building models around Usage, Behavioural & geospatial patterns and take immediate action.

    Datacultr has turned a Smartphone into a tool for financial inclusion by effectively making it into a virtual collateral. With the proprietary technology provided by Datacultr, consumer lending companies can set up triggers that can alert them against potential frauds and asset re-sale. It shall help in making the collection process seamless by monitoring such triggers on the android device.

    This solution uses data to create actionable insights before potential fraud. The Platform empowers the lenders to remotely manage Smartphone given out on Loan, by setting up a unique device experience module on the Smartphone, using behaviour driven templates that help them to uniquely maintain the entire life-cycle of the borrower throughout the tenure of the loan.

    Commenting on the same, Sujoy Ghosh, CTO & Co-founder, Datacultr, said, “Our predictive Fraud Management solution & the existing device management levers will broaden the horizon for consumer lending companies and hence, strengthen the process of underwriting such loans to ‘New to Credit' customers. We want to create a secure ecosystem for lending institutions so that they can provide loans to the next billion underserved users."