bankingciooutlook

Empowering sharper credit decisions in the Philippines: Scienaptic partners with Teligent Systems

By: Banking CIO Outlook | Thursday, September 03, 2020

Manila - Scienaptic, one of the world’s leading AI-powered credit decisioning platform company, announced the formation of a strategic alliance with Teligent Systems. This alliance would enable easier access of Scienaptic’s credit decisioning products to lending institutions based in the Philippines.

Traditional credit decisioning systems have limited effectiveness in the unpredictable post-COVID world. Scienaptic has unveiled multiple innovations that address the issues emerging from lack of bureau coverage, older generation scorecard techniques, and rule-based decisioning. These innovations include plug-and-play alternate data-based credit scores, pre-built AI/ML models, and a platform that allows rapid test-and-learn.

Several leading banks and alternate lenders in the US, UK and Asia are leveraging Scienaptic’s unique products to transform their credit decisioning capability. With the formation of this alliance, the same globally proven cutting-edge technologies will be readily available to financial institutions in the Philippines. This will allow local lenders to originate new loans with confidence and provide credit access to thousands of credit-worthy individuals and SMEs.

Joydip Gupta, APAC head at Scienaptic said, “Philippines is a key growth market for Scienaptic in Asia, with a large share of local population either new-to-credit or unbanked. Using Scienaptic’s proprietary AI-based techniques and flexible credit decisioning system, we can disrupt the market and make credit available to SMEs and individuals, while protecting portfolio quality of the lenders. We are very excited to partner with Teligent, given their strong understanding of the local market, and significant footprint within banks and fintech lenders across the Philippines.”

Winston Palma, Teligent’s director for solutions and consulting said, “As a solutions-driven organization with a passion to deliver right-sized I.T. solutions, we are very much excited to introduce Scienaptic to lending institutions in the Philippines. Scienaptic’s AI-powered end-to-end credit decision management platform works with alternative data points, enabling local lending firms to underwrite loans with minimized risk at turnaround times measured in hours, for deserving SMEs and Entrepreneurs that typically do not qualify using traditional models. This solution can benefit the local economy by enabling SMEs and entrepreneurs to be granted faster access to funds, which in turn create jobs, products, and services.”

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