CreditNirvana’s Post

To stay competitive in the booming private credit market, #banking leaders should consider a few approaches: embracing partnerships, streamlining loan origination, and leveraging #AI for efficiency. Resilience will be key; much more in this article, ICYMI: https://lnkd.in/gGVfHvsb 

Only 11% of the debt collection professionals surveyed by Datos Insights are using third-party solutions that incorporate AI and machine learning, but 40% are either in the process of deploying such solutions or considering it. Fintechs such as TrueAccord January and InDebted use ML models to analyze some combination of consumer engagement data, debt characteristics, and anonymized historical data to determine which digital channels each consumer prefers, when they are most likely to respond, and what a message should say. https://lnkd.in/eHWsau3n

With a mission to enable lenders to engage with borrowers more effectively, Neowise has unveiled two transformative products powered by generative AI: NeoBot, the Debt Collection VoiceBot, and NeoSight, the AI Call Analytics Tool. Neowise is a debt recovery solutions provider and a Decentro group subsidiary that contributes to the overarching lending infrastructure. Developed in close collaboration with Bangalore-based generative AI startup Sarvam AI, these solutions — powered by advanced large language models (LLMs) — transform the way lenders approach debt recovery by improving efficiency by around 15% and reducing costs by 33%. The initial POCs tested by around 3 lenders have proved very successful in achieving the above numbers, and now the company wants to scale these across 150+ lenders across the country. Read more: https://lnkd.in/g4xNsBzM #IndiaTechnologyNews #Neowise #AIDebtCollection #SaaSTools #FintechInnovation #DebtRecovery #AIinFinance #AutomatedDebtCollection

Excited to hear from Dr. Alet Smith (B.Eng, M.Eng, Ph.D. Big Data), MTN’s General Manager of AI and Big Data Monetization. Thank you for such an informative presentation! Our AI decision tree continues to evolve, inspired by the latest advances in the AI space. TRAQ ‘s Intelligent Decision Tree optimizes debt collection by automating complex decisions, significantly enhancing efficiency and success rates. It swiftly analyzes debtor profiles and payment histories to identify the most effective strategies, adapting in real-time to market changes. By leveraging data-driven insights, the system predicts debtor behavior, allowing for tailored communication and improved collection outcomes. This automation streamlines processes, reducing manual labor and operational costs while ensuring compliance with legal and ethical standards. The Intelligent Decision Tree gives collection agencies a strategic advantage, boosting immediate debt recovery efforts and supporting long-term financial health in a dynamic industry.

AI is streamlining loan origination by automating tasks, reducing errors, and accelerating credit decisions, enhancing efficiency in banking operations. Jump into this article by BAI to learn more about how AI is transforming loan origination 👇 #AI #loanorigination #finance #CX https://bit.ly/3YwDW57

Banks and financial institutions rely heavily on loans and credit as key revenue streams. To maximize profitability, they rely on data as they require more precision with their prediction. In this context, AI systems facilitate efficient management of the loan and credit assessment process, enabling lenders accurate predictions with minimal effort. Discover in this article how leveraging AI systems can enhance loan management and credit risk assessment, ensuring sustained profitability for banks, check it out 👇 https://lnkd.in/dHSH6rCz

The AI adoption rate in the finance sector has grown rapidly, with a significant portion of financial institutions incorporating AI into their lending processes. Learn more and uncover why: https://bit.ly/4hlmtn9

Are you wondering how automation can revolutionize loan origination? According to McKinsey & Company, leveraging AI in loan origination can slash costs by up to 40% by automating tasks such as data entry, etc. Discover how overcoming traditional challenges with strategic automation can boost efficiency in commercial loan origination. Read more: https://lnkd.in/g3j7GP2e #Anaptyss #DigitalServices #RPA #LoanOrigination #Automation #AI #FinanceTransformation #Efficiency #CommercialLoans #Fintech #DigitalTransformation

At AbleCredit, we're constantly looking for ways to improve the lending experience. In our latest blog, we dive into how AI is poised to disrupt the finance & lending industry, and how AbleCredit is at the forefront of this change ! #GenAi #AI #FinTech #AbleCredit https://lnkd.in/dQxpiw_B

Despite a slow start to 2024 in terms of fundraising, many experts are projecting a strong second half of the year for the private debt industry. As the industry prepares for this expected uptick in activity, many firms will be seeking ways in which they can streamline and scale up their operations. In our latest blog, we explore several ways that automation can help firms achieve growth. Plus, we examine some of the specific automations in AXIS by AIO Logic that can help firms automate, optimize, and scale their operations all at once! #PrivateDebt #CommercialLending #Automation #AI #Fintech