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BULDANA URBAN CREDIT CO-OPERATIVE SOCIETY(BUCCS)

BULDANA URBAN CREDIT CO-OPERATIVE SOCIETY(BUCCS)

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Buldana Urban Credit Co-operative Society (BUCCS) was looking to streamline its processes through specialized microfinance software

BUCCS initiated microfinance lending to support and transform countless lives. However, they were dealing with challenges with the conventional microfinance lending process. We helped the client deal with these(icons)
Automate lending process end-to-end
Reduce credit risk through intelligent credit decisioning
Eliminate human error, improving operational efficiency
Data collection
Keeping your data secure and reducing risk through instant credit decisioning is something FinBraine takes pride for

We helped the client
with lending solution
that comprised of below modules

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01.

End-to-end lending

02.

Origination

03.

Servicing

04.

Credit scoring

05.

Reporting

End-to-end Lending

  • Covers end-to-end functions – loan origination, underwriting, loan servicing, collection and reporting
  • Automated workflows speed up time to fund
  • Discard manual processes

Loan origination

  • Save operating costs
  • Accelerate loan application process
  • Quick and accurate credit risk assessment with AI based algorithms

Loan Servicing

  • Automated loan disbursement
  • Payment schedule management
  • Automatic calculation of arrears, accruals

Intelligent Credit Scoring

  • The AI-based credit scoring to determine the creditworthiness of borrowers at scale and speed
  • Integration with third-party credit scoring to make well-informed credit decisions.

Automatic Data Collection

  • Customizable access to interactive dashboards with accurate information and smart tools to make critical decision
  • Comprehensive reports
  • Easy export of data to a range of formats

Benefits we offer

Secure seamless integration with advanced compliance

Lower credit risks

Reduce operational costs

Streamlined end-to-end lending

Easy scaling of business

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Nagrik Saharika Bank

Nagrik Saharika Bank

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Nagrik Saharika Bank was looking to digitize its customer identification and credit worthiness to prevent frauds

FinBraine understand the challenges associated with the conventional lending process

Legacy platforms
Disjoined onboarding
Paper based, manual workflows
Fraud and cyber thefts

Data collection

Why FinBraine’s Lending solution is perfect for banks like you

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AI-powered, automatic grant process

No human errors

Fraud and theft prevention

Use of latest technology at each step

Our next-gen solution is tailored to the needs of our lending process

  • Handling Identity Verification requirements for AML and KYC compliance

    Our digital KYC solution – IDBraine will not let you compromise on user experience to meet identity verification requirements for AML and KYC regulations.

    • Easy-to-use portal: With the help of a super simple portal that offers perfect balance between user-centric design and smoothness of functionality, we enable your customers to verify their identity
    • Real-time document verification: IDBraine gives real-time feedback to users ensuring they submit only high-quality pictures for document verification.
    • Auto-filing of data: IDBraine leverages OCR technology to automatically extract data from identity documents and prefill the required forms.

  • Ensuring a risk-based approach for KYC verification

    To meet the identity verification requirements for KYC and AML compliance, insurance companies need a risk-based solution that can address these regulations.

    • Tailored configurations of verification platform: Customized configurations ensure right balance of security and convenience to match the level of risk businesses can take
    • Use traditional data sources: One can either supplement traditional data or replace them with biometric data

  • Scaling up faster than ever

    Staying compliant can greatly reduce operational costs

    • Smart streamlining of processes: FinBraine’s solution can help businesses to scale cost-effectively by perfectly combining AI with human expertise
    • Detailed report generation: We perform checks for businesses to provide detailed report that flags anything that needs to be attended urgently.

How we do it?

Step 1
Intelligent extraction of data
The app provides the customer an option to take a picture of an identity document by leveraging AI-powered OCR technology that works even with low-quality images. It enhances the captured photo, normalizes the ID, detects the ID image for Know Your Customer (KYC) compliance and automatically pre-fills the extracted personal data into the predefined fields.
Step 2
Confirmation of extracted data
Once the data is pre-filled using the OCR technology, the app prompts the customer to verify all the filled in details to avoid any issue at a later point in time.
Step 3
Instant verification
The user takes a selfie and goes through the liveness verification check to verify their identity using facial recognition technology.
Step 4
Deep Neural Liveness Check
  • Next, the app performs the liveness check through:

  • Passive Liveness Check – Built upon deep neural networks, it can distinguish a real face from an image even without user interaction.

  • Active Liveness Check – Prompting a user to follow a randomly moving dot on screen, the algorithm monitors pupil movement to check if it has been done correctly.
Step 5
Digital, Reliable and trustworthy onboarding
AI-based identity verification using data collected during onboarding. Once the onboarding is complete, the account is opened for the customer, which he can access using login.

Benefits the bank achieved

Accurate credit decisioning in few seconds

Automated loan management, cutting down operational and lending costs

Streamlined end-to-end process

Platform customization as per the needs

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Bhopal Mahanagar co-operative bank

Bhopal Mahanagar Co-operative Bank

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Co-operative bank looking to enhance lending experience through AI and automation

Bhopal Mahanagar Co-operative Bank was looking for a solution to fix its business challenges
Digitized identity verification
Credit decisioning

Loan origination speed

Operational efficiency

Data collection

Transformed Lending Solution

FinBraine transformed lending solutions for the bank through fully managed, advanced, cloud-based, intelligent credit scoring and digitized KYC mechanism. The intuitive borrower portal with separate workspaces for lender and borrower helped the bank easily modify the loan portfolio to maximize repayments of loans, meeting customer repayment needs and mitigate risk

01.

End-to-end lending

  • Covers end-to-end functions – loan origination, underwriting, loan servicing, collection and reporting
  • Automated workflows
  • Fast and easy deployment of solution
  • Fully managed lending solution, which is automatically updated
  • Adheres to latest compliance requirements
  • Can be accessed anywhere, anytime, from any device
  • Multiple backups ensuring platform is always available for business
02.

Platform configuration

  • Robust and flexible platform supporting wide variety of needs
  • Configuration is driven by experts
  • Highly trained staff to understand, communicate and manage the unique requirements of the bank
  • Timely deployments
03.

AI-based Automation

  • Automation to speed the process, capture more loans and reduce operational costs
  • End-to-end automation including loan origination, credit review, funds transfer, payment processing, underwriting, collections, reporting
  • Choice to choose only what is needed
04.

Intelligent Credit Scoring

  • The AI-based credit scoring to determine the creditworthiness of borrowers at scale and speed
  • Integration with third-party credit scoring to make well-informed credit decisions.
  • Ensures more loans are processed, without violating credit risk parameters
  • Leveraging deep neural networks for fine-tuning algorithms
  • Integrated with traditional credit bureaus
05.

Analytics and Reporting

  • Customizable access to interactive dashboards with accurate information and smart tools to make critical decision
  • Comprehensive reports
  • Easy export of data to a range of formats
06.

Digital Onboarding

  • Makes lending easy, cost effective and simple
  • Digitized identity verification
  • Liveness validation
  • Automated onboarding process ensures seamless customer transition from approvals to credit
  • Multi-channel communication options for borrowers
07.

Cybersecurity and Fraud Prevention

  • Prevents disasters before they happen
  • GDPR complaint platform, certified for ISO 27001 and ISO 9001
  • Leverages architecture that conforms to guidelines issued by NIST and OWASP
  • Fraud prevention includes identity verification and additional protection techniques
08.

Debt Collection

  • Includes a bad-debt trigger for early warnings
  • Automated system to red flag the account, calculate penalty, send payment reminder, adjust credit score, recalculate pricing, credit outstanding payments etc., all on auto-pilot
  • Fully automated platform compatible with large-scale organizations
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Benefits we offered

We take pride in providing cutting edge customer experience to both borrowers and lenders, starting from identity verification to intelligent credit scoring and approvals

Digital lending for community banks that reduces burnout

Secure seamless integration of borrower portal with lending solution

Speed up credit decisioning

Payments, loans and communication handled in a single interface

Editable loan application

Streamlined end-to-end lending

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