Profectus Capital Goes Live With Scienaptic’s AI-Powered Credit Decisioning Platform

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Scienaptic AI , a leading global AI-powered credit decision platform provider, announced today that Profectus Capital is now live on its platform.

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Business Wire, Inc.Business Wire, Inc.
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Monday, April 18, 2022
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Software, Internet, Professional Services, Data Management, Technology, Small Business, Other Manufacturing, Security, Other Professional Services, Finance, Other Technology, Manufacturing, Supply chain finance, Financial statement, Reserve Bank of India, Branch, SME, Durable good, Technology, NPAS, MSME-Champions, Science and technology in Asia, MSME, SMB, CRO, Medication, NBFC, Business, Reserve Bank, Bank, Electronics
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UNITED STATES, INDIA, NORTH AMERICA, ASIA PACIFIC, NEW YORK
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SCIENAPTIC, PROFECTUS CAPITAL
Summary
Key Points: 
  • Scienaptic AI , a leading global AI-powered credit decision platform provider, announced today that Profectus Capital is now live on its platform.
  • Established in 2017, Profectus Capital is a systematically important non-banking financial company registered with the Reserve Bank of India and headquartered in Mumbai, India.
  • With Scienaptic AI, Profectus aims to strengthen its credit decisioning processes and enhance credit availability to underserved MSMEs.
  • Over 150 years of credit experience is embedded in Scienaptic's AI native credit decision platform.


Scienaptic AI, a leading global AI-powered credit decision platform provider, announced today that Profectus Capital is now live on its platform. As a part of Phase-I implementation, Scienaptic has deployed its credit decisioning engine and industry-tested scorecards for Bureau data and Financial Statements to enhance small and medium business (SMB) loan decisions. Moving forward, Scienaptic will also use its AI technology to determine risk patterns in Profectus’ customer behavior and provide sharper predictive risk signals.

Established in 2017, Profectus Capital is a systematically important non-banking financial company registered with the Reserve Bank of India and headquartered in Mumbai, India. It offers term loans and working capital loans to small-medium enterprises operating in the manufacturing and service sectors. With Scienaptic AI, Profectus aims to strengthen its credit decisioning processes and enhance credit availability to underserved MSMEs.

“Our goal is to be a preferred financial partner for the small-medium businesses of India by providing better credit access to the credit-underserved. We are presently lending to 11 Clusters across 18+ locations and plan to establish a presence in many more states soon,” said Nimesh Parikh, CRO, Profectus Capital. “In support to our mission, Scienaptic AI's credit decisioning platform will be automating our SMB loan decisioning process and providing intelligent signals to help us scale approval rates while continuing to keep NPAs very low. The platform will be providing a smoother experience for our customers and sharper data driven insights to our underwriters.”

Correspondingly, Joydip Gupta, Business Leader Scienaptic AI, cited, “We are delighted to be working with Profectus Capital to help strengthen the credit and financing opportunities for its clients. Profectus has tremendous domain expertise in MSME/SME funding and are poised to scale their asset base dramatically. We are sure that Scienaptic's unique, adaptive AI technology will enable the company to serve more SMEs, reduce credit risk and create maximum social impact to the manufacturing and service sectors of India.”

About Scienaptic

Scienaptic is on a mission to increase credit availability by transforming technology used in credit decisioning. Over 150 years of credit experience is embedded in Scienaptic's AI native credit decision platform. Our clients across banks, credit unions, fintech, and other lenders use the platform to constantly improve the quality of underwriting decisions. This enables them to say 'yes' to borrowers more often and faster. Lenders use the platform with assets exceeding $100 billion, enabling them to process over $22 billion in credit decisions, benefitting over two million credit union members and millions of borrowers across banks, auto, and online lenders. For more information, visit www.scienaptic.ai.

About Profectus Capital

Profectus Capital is a provider of non-banking financial services intended for small-medium enterprises operating in the manufacturing and service sectors. It is a systemically important non-banking financial services company (NBFC – SI – ND) registered with the Reserve Bank of India. The company specializes in term loans and working capital loans, loans for machinery, equipment funding, and supply chain financing services for dealers, offering tailor-made and cost-effective loans. Profectus Capital also provides Supply Chain Financing solutions for Dealers in segments like Pharmaceuticals, Consumer Durables, IT Peripherals, Electronics among others. Profectus Capital presently lends to Eleven Clusters across 18+ Branch locations and is working towards becoming a lending partner of choice for thousands of SMEs operating in the country. To know more visit, https://www.profectuscapital.com/.

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