Avanse Financial Services goes live with Scienaptic’s AI-powered credit decisioning platform
NEW YORK, NY (February 22, 2022) — Leading AI-powered credit decisioning disruptor, Scienaptic AI announced that Avanse Financial Services has completed implementation and is now live on its platform. The implementation will enable Avanse to automate its loan decisioning to offer seamless education financing to students.
Avanse Financial Services Limited is a new age, technologically advanced, education-focused non-banking financial company (NBFC) on a journey to democratize education and education financing in India. This collaboration and implementation of AI-driven credit decisioning will enable Avanse to administer credit more effectively. This will further strengthen its technological advancement journey dedicated to providing a hassle-free experience to its stakeholder ecosystem.
“Investing in emerging technology has always been a top priority for the business. As a customer-centric organization, we have implemented a hybrid-operating model of doing business, which comprises best practices of traditional lenders and new-age fintech players to deliver the highest level of customer experience. This collaboration will enable us to implement the perfect amalgamation of an AI-driven approach and appropriate human intervention to analyze credit accurately. We will continue to explore innovative ways of creating consistent value for our stakeholder ecosystem and remain steadfast in our mission of making education financing seamless and affordable for every deserving Indian student,” said Amit Gainda, CEO of Avanse Financial Services.
“We are very pleased to deploy our credit decisioning engine for Avanse Financial Services to support the financing needs of students across the country,” said Joydip Gupta, APAC Head of Scienaptic. “Our AI-powered credit decisioning platform will enable speed to market, greater automation and better decisions, while minimizing risks.”
About Scienaptic AI
Scienaptic AI’s mission is to increase credit availability across the globe by transforming the technology used in credit decisioning. Credit unions, 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
About Avanse Financial Services
Avanse Financial Services Limited is a new age, education focused NBFC on a mission to provide seamless and affordable education financing for every deserving Indian Student. The company provides loans across two segments:
- Education Loan – Loans designed to cater the entire education lifecycle of student spanning from school to post graduation.
- Higher Education – Loans for International and Domestic Studies
- Education Loans for E-Learning
- School Fee Financing
- Education Loans for Skill Development Courses
- Educational Institutional Loans – Loans for financing working and growth capital needs of educational institutes in India.
