SMARTCOIN FINANCIALS PRIVATE LIMITED

In their own words

Product Innovation SmartCoin has developed an innovative technology to deduce an alternative credit score for a person applying for loan using its mobile application. We have developed proprietary data analytics and machine learning algorithms to predict a user’s default behavior based on their digital footprints and alternate data. Our algorithms take into account data points - such as transaction patterns (e.g. bank accounts, wallets, bill payments, online shopping and investments), social networks, credit histories and online behavior – to establish a person’s capability and intent to repay their debts. Process Innovation SmartCoin has innovated the entire cycle of lending to provide digital, paperless and automated loans. • Customer Onboarding: Through our mobile app • Loan Approval: Customer can provide the required information for evaluation of their loan application through a quick form (within the mobile app) and uploading document images. This info is processed through the risk engines (based on machine learning, vision and image recognition tech) as well as Aadhaar API integrations based on the credit policies of our lending partners. ThisAI/ML-based approach also helps to personalize the loan products based on the borrower’s risk profile. Thus, the loan approval and disbursal process is automated leading to a fast turnaround time and better risk-based pricing. • Loan Collections: Borrowers can repay their loans based on the latest payment innovations, such as Aadhaar-based eNACH and UPI, directly through the app. Service Improvement: As stated above, with innovation in product and process, SmartCoin has vastly improved the loan servicing and user experience.

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