Lentra, the leading digital lending platform, unveiled its Intelligent Lending Cloud Platform on Wednesday during its annual flagship event, the Lentra Digital Lending Summit.
Lentra introduces three cutting-edge AI-driven products, representing a significant step forward in integrating AI within the digital lending platform. Furthermore, it incorporates 40 new functionalities into its existing products, all of which have been meticulously designed to leverage the potential of AI and deliver practical utility to banks and NBFCs.
The evolution of trends in India’s credit consumption narrative necessitates in-depth comprehension and analysis. “At Lentra, we strive to meet the increasing demand for personalization and localization by leveraging the power of AI, ensuring accessibility for our clients,” said Ankur Handa, Lentra’s Chief Product Officer.
Lentra’s Intelligent Lending Cloud solution is intended to meet the evolving need for Vernacular Languages to broaden reach, accelerate processing speeds, and lower operating costs.
Lentra
Lentra stated that it is actively advancing the use of AI in intelligently automating solutions for Indian banks and NBFCs. Among the initiatives are the use of Machine Learning Models to identify potential borrower segments within existing customer bases, as well as the use of AI for intelligent customer engagement and lead nurturing. It claims to use behavioral intelligence to improve upsell and cross-sell opportunities for the bank by implementing hyper-personalized product recommendations.
“With NIM itself becoming a non-differentiative commodity the focus amongst banks is becoming “experience”. How do we give our new customers a simple, easy, but wow experience? Herein lies the true differentiator! There are many one-trick ponies in the lending world that address various aspects of lending. This is where someone like a Lentra stands out. Their AI-powered solutions reduce friction throughout the lending and collection process, allowing for faster, fairer, and more accurate decisions. “We are impressed with how Lentra continues to push the boundaries of their intelligence-embedded solutions and create the WOW experience for end customers,” said Cyrus Daruwala, Managing Director, Global Financial Services, IDC.
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