Indian American led Scienaptic AI bags several Indian fintech business, named winner of 2022 BIG Innovation Awards

A leading New York-based AI-powered credit decisioning company, Scienaptic Systems, founded by Indian American entrepreneur Pankaj Kulshreshtha, has bagged several Indian fintech contracts including Uni Cards and ZeroPay.

Kulshreshtha who is the CEO of the company designed this platform to address outdated methods of credit decisioning that have failed millions of borrowers.

In today’s dynamic environment, lenders need better ways to assess risk, and Scienaptic’s AI-powered credit decisioning platform offers a compelling solution, the company said in a statement.

In implementing its technology with Uni Cards, it will enable the fintech company to expand credit access in India by providing instant decisions to applicants and an efficient process that redefines the way credit is consumed in India.

Nitin Gupta, Founder and CEO of Uni Cards commented, “We see huge whitespace for innovation and an opportunity to design credit products for a varied set of customers. Our Pay-later card, Pay 1/3rd, has one of the lowest NPAs in the industry. We are delighted to have a partner like Scienaptic as we expand further and make access to credit democratic.”

“We are excited to help Uni Cards offer a refined application process to their users,” said Pankaj Kulshreshtha, CEO of Scienaptic.

“It aligns with our mission of credit expansion, and we are proud to support them from day one. Our credit decisioning platform allows Uni Cards to experiment, test-and-learn faster, and over time, build the best decisioning strategies for their customer segments, balancing growth and profitability.”

Scienaptic is also helping ZeroPay to make accurate credit decisions and limit assignments in the Buy Now, Pay Later (BNPL) segment.

Launched by the Acharya group, ZeroPay is an OTT-based BNPL FinTech start-up seeking to change consumer credit with its cutting-edge technology platform which allows customers to shop anywhere and pay in easy EMI at Zero interest, Zero penalty and Zero late fees.

“Scienaptic is our strategic partner and is helping us build the right risk scorecards, decisioning strategy and credit limit based on risk assessment with a platform to execute decisioning in real-time,” said Krishna Basani, CEO of ZeroPay.

“This platform will allow us to make loan decisions and approve credit faster and in larger volumes, while managing our risk.”

Recently, IBS Intelligence reported that Scienaptic AI, a leading global AI-powered credit decision platform provider, had announced that Montana-based Intrepid Credit Union has chosen its platform to boost its credit decisions.

In addition to this, Scienaptic AI has been named a winner in the 2022 BIG Innovation Awards, presented by the Business Intelligence Group.

Scienaptic empowers lenders to continuously improve the quality of their underwriting decisions, enabling them to say “yes” more often, and much faster, the company said.

“Our mission is to enhance lives and fulfill dreams by bringing more people into a world where credit systems work,” said Pankaj Jain, President, Scienaptic.

“Innovation is driving growth in the global economy,” said Maria Jimenez, chief operating officer of the Business Intelligence Group. “We are thrilled to be honoring Scienaptic as they are one of the organizations leading this charge and helping humanity progress.”

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