Pune-based digital lending cloud platform Lentra AI has acquired Chennai and Singapore-based AI firm TheDataTeam (TDT). Lentra will deploy TDT’s flagship behaviour intelligence platform Cadenz to assist banks and monetary establishments make higher data-driven selections on buyer creditworthiness.
The cloud-native platform works with over 50 banks and monetary establishments and has processed over 13 billion transactions.
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Following the acquisition, Rangarajan Vasudevan, founder & CEO, TDT has joined Lentra as co-founder & Chief Knowledge Officer. “Software program is consuming the world, and information is consuming software program. Whereas the makes use of of AI are many, the flexibility to have an enduring impression is immense within the monetary sector as a result of huge untapped potential for credit score. Lentra has already established itself because the fastest-growing lending cloud. Given each firms had ambitions to scale quick in adjoining areas and in the identical geographies, it made excellent sense to merge our strengths in product and business-building,” stated Rangarajan.
Lentra will combine its SaaS and API-driven modular structure with Cadenz’s stack. Lentra’s Open API-driven modular structure helps banks create tailor-made lending journeys and buyer experiences with a 95 % Straight By Processing (STP) price. This provides banks and monetary establishments entry to a brand new buyer base, reduces Non-Performing Property (NPAs), and improves operational efficiencies.
“We’re seeing explosive development within the credit score market. A few of our purchasers have grown their Mortgage ebook by 10X after coming onboard the Lentra lending cloud. By integrating Cadenz platform into the Lentra lending cloud we can present an excellent larger aggressive edge to our purchasers in your entire credit score lifecycle, from lead technology by origination to the post-disbursal actions of the mortgage administration system, monitoring, collections and threat administration. With this acquisition of Cadenz, Lentra is now on observe to turn out to be the main platform of selection for monetary establishments globally,” stated Sandeep Mathur, chief income officer, Lentra.
The cloud platform is very scalable with a functionality to deal with greater than 1100 API calls/second.
