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CA Grameen adopts Scienaptic’s AI-powered engine for loan underwriting in rural India

CA Grameen will underwrite new and existing customers for group and two-wheeler loans using Scienaptic's credit decisioning engine, intelligent multi-bureau solution, and repository of risk-predictive bureau variables
CA Grameen adopts Scienaptic’s AI-powered engine for loan underwriting in rural India
CA Grameen adopts Scienaptic's AI-powered engine for loan underwriting in rural India

Bengaluru-based leading microfinance institution (MFI), Credit Access Grameen (CA Grameen) has associated with global artificial intelligence (AI)-powered credit decisioning platform provider Scienaptic AI to implement its platform to underwrite loan applications in rural India.

CA Grameen began operations as an NGO in a village near Bengaluru in 1999. It grew into a leading MFI over the years, backed by a unique operating model and a commitment to serving the bottom of the social pyramid. It has a presence in 14 states and one union territory, with a branch network of 1,684 serving nearly 3.8 million customers and a gross loan portfolio of over USD 2 billion as of September 2022. CA Grameen will underwrite new and existing customers for loans and two-wheeler loans using Scienaptic’s credit decisioning engine, intelligent multi-bureau solution, and repository of risk-predictive bureau variables.

Highlighting the partnership, Firoz Anam, Chief Risk Officer at CA Grameen, said, “CA Grameen works to build empathetic, creative, transparent, and efficient credit for India’s rural population. The cutting-edge technology of Scienaptic will greatly improve our ability to incorporate the power of data analytics into lending decisions.”

Speaking on the adoption of artificial intelligence in leading decisions, Sudesh Puthran, Chief Technology Officer at CA Grameen, said, “The engine’s ability to pull data from external sources, analyse variables, and draw conclusions in real-time will allow us to make more timely and personalised lending decisions, allowing us to meet the evolving financial needs of India’s rural population.”

Underlining the collaboration with the microfinance institution, Joydip Gupta, APAC Head of Scienaptic AI, said, “We are privileged that CA Grameen has chosen us as a strategic partner to support their noble cause of addressing the microfinance needs of India’s rural population. Our AI-powered credit decisioning platform will accelerate time to market, increase automation, and enable better decisions while reducing risks. We are confident that our platform will be a valuable asset to them and will help millions of people improve their financial well-being.”

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