New York [US]/ Bangalore (Karnataka) [India]: Leading global AI-powered credit underwriting platform provider Scienaptic AI announced today that Fi (Epifi Technologies Pvt. Ltd.) has completed deployment and is live on its Credit Decisioning Engine platform. This deployment facilitates a faster and more robust decision-making process, enabling individuals to access Fi’s products and services efficiently. Fi will use Scienaptic’s platform for real-time credit decisioning and batch processing for anchor-based financing.
Founded in 2019, Fi is a money management solution that is designed to help individuals reach their financial goals. Fi provides digital, mobile-first financial solutions for payments, money transfers, lending, other banking services and investment facilities. The company offers app-based instant loans and credit cards in collaboration with banks. Fi will use Scienaptic’s Business Rule Engine (BRE) for lending and non-lending products such as customer onboarding and host and run models for multiple use cases.
“At Fi, we aim to create a one-stop-shop experience for all things money. This requires us to listens to our customers’ needs, understand their wants, and nudge them to achieve their financial goals,” said Arvind TP, from the Founding team of Fi. “Going live on Scienaptic’s platform will streamline our digital lending process and allow us to adapt products faster, catering to the changing needs of our customers. Scienaptic’s platform will help us experiment, test, analyze and implement improved strategies for our customers and offer our services to the right people at the right time.”
“Correspondingly, Joydip Gupta, APAC Head of Scienaptic, said, “We are excited to help Fi build and offer better options for their customers. Our BRE engine will assist Fi in setting up decisioning strategies based on risk assessments to execute decisions faster, create a memorable digital experience for its customers and increase usage and loyalty on the platform.”
Scienaptic AI’s mission is to increase credit availability across the globe by transforming the technology used in credit decisioning. NBFCs, auto lenders, banks, and fintechs, use Scienaptic’s AI native credit decisioning platform to continually improve the quality and speed of their underwriting decisions.
The platform enables FIs to reach more borrowers, including underbanked and underserved individuals, and say “yes” more often without increasing risk. It democratizes automated AI-powered lending while addressing all regulatory requirements, including Fair Lending and explainable adverse actions. Scienaptic-enabled lenders have processed more than 300 million transactions, benefitting millions of borrowers.
For more information, visit http://www.scienaptic.ai