Faster Lending Doc Processing through AI-enabled workflows

A critical part of the lending and underwriting process across Mortgage and SME Lending industries

Small-Medium Enterprises and Commercial Lending: Commercial and SME lending has picked up steam in recent years but has hitherto been minimally regulated due to the lack of investments from parent institutions as well as a difficult and uncertain regulatory environment. It has seen steady growth across multiple sectors and geographies, yet ascertaining the financial health and credit risk remains a painstakingly manual process. Lending AI for SMEs streamlines the underwriting process by automatically analyzing financial reports, stock and asset statements and summarizing key financial ratios to ascertain cash flow patterns and the overall financial health of the SME borrower.

Mortgage and Retail Lending: Consumer lending for mortgages as well as personal loans has seen a growth spurt in the post-Covid era. However, historical credit scores are no longer the right benchmark for ascertaining credit worthiness given the huge sections of the population currently face unemployment. Alternative sources of data such as consumer purchases on e-commerce channels, social media behaviour are being leveraged to gage financial standing as well as repeat transactions. Lending AI for consumers helps lenders create alternative credit scores for mortgage and retail lending workflows in real-time, thus improving throughput and turnaround times for applications that tend to pile up due to resource crunch at peak times (such as the close of a quarter)

AI-driven transit reopening for public transportation systems

Leverage deep learning models to perform demand smoothing and allocate routes in real-time

Public transportation systems in developed countries that were plagued with the mismanagement of rush hour traffic have been brought to their knees in the Covid-19 era. Stricter regulations on social distancing norms as well as the ebb in workplace commutes effectively means that subways, trains and buses often have to run at less than 50% capacity. With vaccines being deployed around the world, public transportation systems would need to be ready for a deluge of workplace commuters and peak-hour capacity.

It would be a massive transition to accommodate commuters while adhering to social distancing norms. Hence, staggered commutes and working schedules would ease the pain of peak-hour loads as well as smooth demand over a longer period during the day. Transit planning officials need to be able to monitor demand in real-time and allocate routes accordingly while maintaining social distancing norms within subways, trains and buses.

This needs to operate hand-in-hand with employer policies regarding staggered working hours, which could be mandated by concerned city and state officials. A complex maze of route allocation staggered schedules and demand smoothing models can be circumvented through a pre-trained deep-learning model that allocates demand in real-time and generates alerts to employers and commuters to enable demand smoothing workflows

Know Your Customer (KYC) for Financial Services and Insurance

Streamline your organization's client onboarding process and prepare to operate at scale with AI-enabled solutions.

When it comes to customer on-boarding, it is vital to ensure a smooth and automated process to reduce manual work. Recognic helps ease the task using pre-trained models along with web and mobile interfaces, all while adhering to the latest cybersecurity and data storage protocols.

A critical part of the client on-boarding process is Financial Services and Insurance. The algorithm helps ascertain the identity and basic financial information for incoming clients, verifies key aspects before uploading details to downstream systems for underwriting, credit scoring or similar workflows. Nuances are built-in for region-specific document types and workflows and streamlined through an API-based interface for both web and mobile platforms.

Our in-house product offering, Recognic, further streamlines end-to-end client onboarding through pre-trained models for smart KYC on-the-go with customized web and mobile interfaces. Strictly adhering to the latest cybersecurity and data storage protocols is our priority and our product is built with regulations and compliance guidelines in mind. Additionally, customized workflows are built as per client requirements across geographies.