Financial Institutions Leverage Datacultr to Reach “New to Credit” Customers, Securing 1.9 Million Loans in 2022 Worth Over USD 380 Million
Dubai-based digital debt collection and risk management start-up, Datacultr, announced that its innovative Credit Recovery Operating System has helped banks and financial institutions secure 1.9 million loans worth over $380 million in 2022. This system supports high-risk lending and improves collection efforts to reduce delinquencies. Datacultr works with banks across India, South Asia, South East Asia, Africa, and LATAM, offering a complete suite of services that reduces lending risk and costs. The platform includes AI-powered behavioral templates, digitized collection processes, and machine learning-based fraud detection.
Neel Juriasingani, CEO and Co-founder, Datacultr
According to CEO and Co-founder Neel Juriasingani, “Datacultr platform is a win-win for lenders and customers, providing lenders with a secure and cost-effective way to access a new customer base, while also offering a practical and easy way to access credit to end borrowers. The platform was designed to provide a seamless debt collection experience and has the goal of bringing more individuals into financial inclusion. Datacultr was launched in 2020 and allows lenders to convert a borrower’s smartphone into a highly effective engagement and collections tool, thus reducing fraud and collection expenses. Integrating loan management systems through simple APIs makes it easy for lenders to automate the process and access a previously untapped customer base”.
Datacultr is the ideal solution for lenders seeking to enter the market of “New to Credit” customers. The platform facilitates credit-making decisions and repayments, enabling banks and lending organizations to offer loans to this group in an economical manner. With the goal of expanding financial inclusion, Datacultr aims to bring more people into the financial system.
Increasing customer adoption of digital technology and higher engagement in digital communication is boding well for financial institutions focused on the new to credit and other thin-file customers. It is not just driving down costs; its bringing in efficiencies not touched using traditional call and connects processes and channels. Overall making this segment a viable business opportunity, added Neel. Launched in 2020 in DIFC, Dubai by Neel Juriasingani and Sujoy Ghosh, Datacultr’s platform has been used by its clients to offer loans to new to credit customers over 3 million times in 9 countries.
Datacultr is a global Digital Operating System for Credit Recovery, it drives collection efficiencies, and reduces delinquencies and Non-Performing Loans (NPLs). Datacultr is a digital-only provider of consumer engagement, recovery, and collection solutions, helping consumer lending, retail, telecom, and Fintech organizations since 2020. The Datacultr platform makes the underserved and unbanked segment viable, for providers of Buy Now Pay Later, Micro-Loans, Nano-Loans, and other unsecured loans. Datacultr is the winner of the Red Herring Asia Global100 Award, 2022, Inclusive Fintech50-2021, and Red Herring Asia Top100 Award, 2019; it has also been recognized in multiple forums as the best digital collections platform.