Friday, 24 March, 2023

Lendingkart uses AI, ML to optimise business

<p>Lendingkart, since its inception, has disbursed loans worth $1B to around 1.3L MSMEs across India. The company has no retail presence and uses its proprietary underwriting model, Cred8, to sanction loans. Lendingkart&#39;s President Manish Bhatia said that they don&#39;t rely on bureau scores alone and use alternate data and proprietary ML to check the worthiness of its customers. Bank transactional info, address, business details, census, etc. are used as alternate data.<br /> &nbsp;</p>