NEW YORK & BANGALORE, India–(BUSINESS WIRE)–Scienaptic AI, leading AI-based credit decision disruptor, announced that Avasse Financial Services has completed implementation and is now live on its platform. The implementation will allow Avanse to automate its lending decisions to deliver seamless education financing to students.
Avanse Financial Services Limited is a new era, technologically advanced and education-focused Non-Banking Financial Company (NBFC) embarking on the democratization of education and education finance in India. This collaboration and the implementation of AI-based credit decisioning will allow Avanse to administer credit more efficiently. This will further strengthen its technology advancement journey dedicated to providing a hassle-free experience to its stakeholder ecosystem.
“Investing in emerging technologies has always been a top priority for the company. As a customer-centric organization, we have implemented a hybrid operating model, which incorporates best practices from traditional lenders and new-era fintech players to deliver the highest level of customer experience . This collaboration will allow us to implement the perfect mix between an AI-based approach and appropriate human intervention to analyze credit accurately. We will continue to explore innovative ways to create consistent value for our stakeholder ecosystem and stay true to our mission to make education funding transparent and affordable for every deserving Indian student,” said Amit Gainda, CEO of Advance Financial Services.
“We are very excited to deploy our credit decision engine for Avanse Financial Services to serve the financing needs of students across the country,” said Joydip Gupta, APAC Manager at Scienaptic. “Our AI-powered credit decision platform will enable faster time to market, greater automation, and better decisions, while minimizing risk.”
About Avase Financial Services
Avanse Financial Services Limited is a new era education-focused NBFC whose mission is to provide transparent and affordable education finance to every deserving Indian student. The company lends in two segments:
Student loan – Loans designed to meet the entire academic life cycle of students, from school to graduation.
Higher Education – Loans for international and national studies
Education loans for e-learning
Education loans for skills development courses
Loans for Educational Institutions – Loans for financing the working capital and growth needs of educational institutions in India.
For more information, visit www.avanse.com.
Scienaptic is on a mission to increase the availability of credit by transforming the technology used in credit decision making. Over 150 years of credit experience is built into Scienaptic’s AI-powered native credit decision platform. Our clients from banks, credit unions, fintech and other lenders use the platform to constantly improve the quality of underwriting decisions. This allows them to say “yes” to borrowers more often and faster. The platform is used by lenders with assets exceeding $100 billion, enabling them to process more than $22 billion in credit decisions, benefiting more than two million credit union members and million borrowers at banks, car lenders and online. For more information, visit http://www.sciaptic.ai.