AbleCredit To address the credit gap in India and similar challenges in emerging economies, Utkarsh Apoorva, Harshad Saykhedkar, Ashwini Prabhu, and Anubhab Bandyopadhyay launched in 2023. The startup is developing GenAI models to transform the underwriting process by generating detailed and tailored credit reports on a case-by-case basis. The uniqueness of AbleCredit’s approach lies in its ability to assess creditworthiness within the informal sector.
By analysing alternative data and adhering to stringent credit policies and guidelines, AbleCredit expands access to credit assessment for sectors typically overlooked by conventional methods. By enhancing the speed of underwriting by over 20X and reducing operational costs, the platform enables credit teams to significantly increase their throughput. A team that previously handled 10 loan cases per day can now manage over 120 cases efficiently.
This efficiency accelerates the credit approval process and reduces the high underwriting costs that have historically hindered credit access in emerging markets. In essence, AbleCredit’s innovative AI-driven approach is poised to bridge the credit gap in emerging nations, particularly in sectors like MSMEs where access to credit is critical for economic growth and job creation. Asaya The rise of direct-to-consumer (D2C) beauty brands in India has transformed the skincare industry with innovative solutions.
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