Indian non-banking financial company (NBFC) Profectus Capital has selected Scienaptic’s AI-powered credit decision platform to enhance its capabilities. 

Through the tie-up, Profectus seeks to strengthen its credit decisioning processes and offer credit to more underserved medium, small and micro enterprises (MSME).

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As part of the initial phase of implementation, Scienaptic has deployed its credit decisioning engine and scorecards for bureau data and financial statements to enhance SMB loan decisions. 

Moving forward, Scienaptic will use AI to assess Profectus’ customer behaviour to determine risk patterns and offer predictive risk insights. 

Founded in 2017, Profectus is registered with the Reserve Bank of India, which offers term loans and working capital loans to SMEs operating in the manufacturing and service sectors. 

Profectus Capital CRO Nimesh Parikh said: “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. 

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“The platform will be providing a smoother experience for our customers and sharper data-driven insights to our underwriters.”

Scienaptic AI business leader Joydip Gupta said: “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.”

Earlier this year, Wing Bank (Cambodia) allied with Scienaptic to offer credit to Cambodian customers living in remote locations.