AGRIM HOUSING FINANCE PRIVATE LIMITED

In their own words

A purpose, a promise We are cognizant of the fact that 90% of the demand for housing finance stems from the Economically Weaker Section (EWS) and Lower Income Group (LIG) customers who remained unserved by traditional financial institutions as they are assessed on the basis of formal credit score and are considered “high risk” as their income source is often cash-based and difficult to track. As a result, customers in this segment remain outside the purview of formal credit. Innovative Proprietary Technology The outcome was a revolutionary approach to lending to the underprivileged with an innovative proprietary algorithm that combines neural networks and gradient boosting to provide an accurate output on income, cash, livelihood, and sustainability of our target customers. Accurate credit assessment also reduces instances of non-performing loans. In two years of operations, we stand at 0% NPLs and no case above 30 days past due. Further, it is combined with a seamless legal check for clear and marketable titles and valuations that are a sounding board for true property ownership. Transformative Impact Our proprietary algorithmic decision engine has helped us impact the lives of over 3000 individuals in 500 families across four states and we know that we haven’t scratched the surface yet! As we scale our innovation, we harbour the ambition of becoming a game changer in the industry and cater to 300 million Indians in our target segment.

Written by the company on its public Startup India profile. Not verified by us.