With CredAble’s solution, ABFL has witnessed an increase in lead flow, with nearly 80,000 leads sourced in the past 6 months. Additionally, it has enabled the creation of a significant database for a large NBFC such as ABFL, enhancing analytics for cross-selling various products like merchant financing, top-up loans, and equipment financing. The implementation has also contributed to increased Net Interest Margins (NIMs). Relationship Managers are now able to easily manage both manual and digitally sourced leads, showcasing the efficiency of the integrated solution.
CredAble has now designed a multi-faceted digital underwriting solution that combines case management, intelligent workflow, credit risk and decisioning support systems. Through this solution, Aditya Birla Finance Limited has brought to the SME ecosystem- Udyog Plus, an end-to-end solution that addresses critical pain points in the B2B lending process and plays a crucial role in supporting the diverse needs of MSMEs.
Nirav Choksi, Co-founder and CEO of CredAble said in a statement, “Accuracy and precision are crucial in the digital lending landscape. State-of-the-art underwriting today involves a fully digital workflow and extensive use of a wide range of third-party data. Entities lacking systems with alternative credit scoring mechanisms will be at a disadvantage in pricing risk effectively and supporting MSMEs competitively. We’re extremely delighted to back ABFL with our underwriting solution that automates the end-to-end lending experience that was previously highly manual.”
Leveraging advanced machine learning algorithms, employing in-built analytics tools, and backed by a deep understanding of customer segments—CredAble has developed a suite of financing solutions to cater to small and medium-sized businesses, typically classified as high-risk assets.Rakesh Singh, MD & CEO, of Aditya Birla Finance, said, “The collaboration with CredAble marks a pivotal moment for ABFL. CredAble’s digital underwriting solution has not only streamlined our lending processes but also significantly improved our efficiency in serving businesses, setting a new benchmark in unsecured business loans for MSMEs.”
