Singapore has witnessed a significant advancement in fintech as Worldline and FinbotsAI jointly launch an AI-driven solution aimed at providing financial institutions with more efficient support for loan operations. This no-code SaaS model greatly simplifies the credit modeling process, enabling various financial institutions to easily take the initiative in credit modeling and achieve autonomous credit assessment.
Through FinbotsAI's technology, financial institutions can utilize advanced artificial intelligence and machine learning algorithms to develop and deploy credit scoring cards, covering the entire process from data processing to decision-making. This solution offers robust support for both personal and corporate loans.
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Sanjay Uppal, CEO and Founder of FinbotsAI, is highly optimistic about this collaboration. He stated, "Partnering with a global leader in the payments sector like Worldline allows our AI innovations to reach the world. Our CreditX product, developed over six years, has been recognized by Singaporean regulatory authorities, and it will help lending institutions confidently apply AI in their digital transformation."
Noel Chow, CEO of Worldline Financial Services APAC, also looks forward to the collaboration, believing that it will help clients enhance their credit assessment processes and seize more new opportunities.
The CreditX product combines the strengths of traditional modeling with AI/ML modeling, allowing credit risk modelers to freely build scoring cards based on their data and parameters. The user-friendly AI design enables credit modelers to quickly develop scoring cards, leveraging AI to improve the accuracy of each card while significantly reducing costs.
As a global leading payment technology company, Worldline is committed to helping businesses of all sizes accelerate their growth. With advanced payment technology, extensive local expertise, and customized solutions for hundreds of markets and industries, they support the development of over one million businesses worldwide. In 2023, Worldline's revenue reached 4.6 billion euros.
Since its inception in 2017, FinbotsAI has been driving profitable lending and financial inclusiveness for financial institutions. Its CreditX, a representative SaaS solution, utilizes artificial intelligence to cover every aspect of the credit value chain. FinbotsAI's clients include banks, digital banks, SME lenders, consumer lenders, credit bureaus, and various other financial institutions. Recently, they were honored with the "Product Innovation of the Year - Best Fintech" award at the 2024 Global SME Finance Forum by the International Finance Corporation.
The collaboration between Worldline and FinbotsAI is undoubtedly set to create a new wave in the fintech sector, helping financial institutions conduct credit assessments more efficiently and accurately, opening up broader business opportunities. This partnership not only represents the latest developments in fintech but also points the way forward for the future of the entire industry.