Profectus Capital Launches Scienaptic’s AI-Based Credit Decision Platform

BANGALORE, India–(BUSINESS WIRE)–Scientific AIa leading global provider of AI-powered credit decision platforms, today announced that Profectus Capital is now online on its platform. As part of the Phase I implementation, Scienaptic deployed its industry-tested credit decision engine and dashboards for Bureau data and financial statements to improve lending decisions for small and medium-sized enterprises (SMEs). Going forward, Scienaptic will also use its artificial intelligence technology to determine risk patterns in the behavior of Profectus customers and provide more accurate predictive risk signals.

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

“Our goal is to be a preferred financial partner for Indian small and medium enterprises by providing greater access to credit to the underserved. We currently lend to 11 clusters at over 18 locations and plan to establish a presence in many other states,” said Nimesh Parikh, CRO, Profectus Capital. “To support our mission, Scienaptic AI’s credit decision platform will automate our SME loan decision process and provide intelligent signals to help us increase approval ratings while continuing to keep NPAs very low. The platform will provide a smoother experience for our customers and more accurate data-driven insights for our subscribers. »

Accordingly, Joydip Gupta, Business Leader Scienaptic AI, said, “We are delighted to be working with Profectus Capital to help strengthen credit and financing opportunities for its clients. Profectus has tremendous expertise in the area of ​​MSME/SME finance and is poised to significantly expand its asset base. We are confident that Scienaptic’s unique and adaptive AI technology will enable the company to serve more SMEs, reduce credit risk and create maximum social impact on India’s manufacturing and service sectors.

About Scienaptic

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 native AI-powered 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. Lenders use the platform 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 millions of borrowers at banks, car lenders and online. For more information, visit www.sciaptic.ai.

About Profectus Capital

Profectus Capital is a non-banking financial services provider for small and medium enterprises operating in the manufacturing and service sectors. It is a systemically important non-bank financial services company (NBFC – SI – ND) registered with the Reserve Bank of India. The company specializes in term and working capital loans, machinery loans, equipment financing and supply chain financing services for dealers, offering tailored and cost-effective loans . Profectus Capital also provides supply chain finance solutions to dealers in segments such as Pharmaceuticals, Consumer Durables, Computer Peripherals, Electronics, among others. Profectus Capital currently lends to eleven clusters in over 18 branches and strives to become a lending partner of choice for thousands of SMEs operating in the country. To find out more visit, https://www.profectuscapital.com/.