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FinBox Empowers Lenders to Expand Reach by 3X with its Credit Decisioning Platform Sentinel, IIFL Onboards the Offering | ||
Bangalore, Karnataka, India The partnership has enabled IIFL to
FinBox, a credit infrastructure provider, has developed an AI-powered credit decisioning platform called Sentinel that has led to streamlined loan processing, enhanced efficiencies in the lending process, and improved risk monitoring.
Arihant Jain, Head Product, Data Science and Analytics, at IIFL Finance said, “Sentinel serves as both a business rules engine and a credit risk management platform, empowering risk experts to make timely decisions. This capability is especially crucial in today's landscape, as NBFCs grapple with rising delinquency rates and compliance challenges from complex digital lending partnerships.”
When asked about the rationale behind developing such a product, here’s what Rajat Deshpande, the CEO and Co-founder of FinBox had to say, “At a time when banks and NBFCs are facing heightened risk and complexity from outsourced services and third-party relationships - a solution that helps them develop new risk management capabilities and implement risk responses swiftly is the need of the hour. For sustainable lender-fintech partnerships, we believe that the lender should feel equally equipped to effect changes and drive business decisions. A solution such as Sentinel incentivises collaboration between lenders and platforms as both the stakeholders are equally empowered by technology to make the most of digitalisation.”
About FinBox
About IIFL IIFL Finance Limited is one of the leading players in the financial services space in India. Together with its subsidiaries – IIFL Home Finance Limited, IIFL Samasta Finance Limited (Formerly known as Samasta Microfinance Limited) and IIFL Open Fintech Private Limited, it provides a diverse range of loans and mortgages.
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