Tuesday, Aug 16 2022 | Time 21:34 Hrs(IST)
image
Business EconomyPosted at: Nov 24 2020 5:07PM


Decimal Technologies launches AI-based digital lending marketplace SAARATHI

Mumbai, Nov 24 (UNI) Decimal Technologies, one of India’s leading fintech firms, has announced the launch of Saarathi, a pioneering, one-of-a-kind lending marketplace, specializing in digital transformation of loan files.
The AI-based product enables hassle-free, paperless digitalization of multiple financial products such as loans, credit cards and insurance on one platform. Saarathi offers a transparent, low-cost process to the lender ecosystem ensuring loan files are trustworthy and fraud-proof, while at the same time making the approval process 5X faster for customers.
“The banking system in India has been hit by several cases of loan defaulters and frauds on one side and there is a credit gap of more than 300Bn USD on the other side. This is caused due to inefficient sourcing and processing, lack of reach and trust deficit between sourcing and underwriting.
At Decimal, we aim to leverage latest technologies to address customer pain-points such as this to make the lending ecosystem efficient and trust oriented. Saarathi aims to bridge the credit gap in India by making the offline channel efficient and transparent, thus, alleviating fears related to fraud or default. Being AI based, Saarathi digitizes the end-to-end loan journey in an intelligent manner. The AI/ ML components seamlessly match the customer with the lender without any manual intervention, solving one of the most crucial problems of the lending industry. “With Saarathi, we hope to digitize the offline channels and make them efficient, these channels contribute significantly to all disbursements happening today.” said Lalit Mehta, Co-founder & CEO, Decimal Technologies.
Lalit also added, “For us, our customers are at the core of our business. Our solutions are at the heart of some of the largest Indian banking conglomerates as well as new-age NBFCs. We want to empower the last mile channel with new-age technologies and access to formal lending. We are expecting to generate revenue to the tune of $100Mn+ annually in the next 5 financial years with Saarathi. Since the launch of the pilot with our channel partners, we have already witnessed double digit week-on-week growth. The feedback has been exceptionally positive and we are excited about the potential Saarathi has to transform the lending ecosystem in India.”
With Saarathi, customers can lower their operational cost and enhance the speed of file processing digitally. This gives them the opportunity to expand their network by connecting with multiple lending partners and scale their business by selling more products. On the other hand, for Lenders, Saarathi removes inefficiencies, reduces costs, improves customer experience and promotes trust across the network. Additionally, with the detailed, user-friendly credit assessment memo, lenders can practice controlled yet faster risk assessment.
Saarathi has been built on Decimal Technologies’ proprietary and trusted No-Code Low-Code platform, which facilitates scale with security. This technology has been tried and tested over a decade.
UNI JS JW1707
Please log in to get detailed story.
Tags: #Decimal Technologies launches AI-based digital lending marketplace SAARATHI
More News

MIVI launches Duopods F50

16 Aug 2022 | 7:56 PM

Hyderabad, August 16 (UNI) MIVI on Tuesday announced it is ready to enhance the experience of listening to music with the launch of its ‘truly Made in India’ wireless Duopods F50.

see more..
Yamaha launches new brand campaign

Yamaha launches new brand campaign

16 Aug 2022 | 5:59 PM

Chennai, August 16 (UNI) Yamaha Motor Pvt. Ltd. on Tuesday launched the third Version of it's 'The Call of the Blue’ national brand campaign, to elevate its image by intensifying the aspirational value through engaging customer centric activities and launches.

see more..
Sensex surges 379 43 points

Sensex surges 379 43 points

16 Aug 2022 | 5:40 PM

Mumbai, Aug 16 (UNI) The BSE Sensex on Tuesday advanced 379.43 points at 59,842.21 following gains in
auto, realty, consumer discretionary goods and services and industrial stocks.

see more..

Kottayam-Kochi Rubber Market Rates

16 Aug 2022 | 5:30 PM

Kottayam Aug 16 (UNI) Following were the Rubber Market rates announced by the Rubber Board here on Tuesday per quintal
KOTTAYAM
RSS FOUR: 16400
RSS FIVE : 15900
ISNR TWENTY: 16200
SIXTY PERCENT LATEX: 11305
KOCHI
RSS FOUR : 16400
RSS FIVE : 15900
INTERNATIOAL RATES (BANGKOK)
RSS One : 13659
RSS Two : 13524
RSS Three:13401
RSS Four : 13333
RSS Five : 13232
KUALALUMPUR
SMR TWENTY : 11883($149.10)
SIXTY PERCENT LATEX : 9271($116.30)
UNI PA SHK1730.

see more..

M&M rises 2 33 pc to Rs 1,289 10

16 Aug 2022 | 4:20 PM

Mumbai, Aug 16 (UNI) M&M on Tuesday went up by 2.33 per cent to Rs 1,289.10, a major gainer in 30 scrips of the Bombay Stock Exchange (BSE).

see more..
image