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Business Economy


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
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