The company will provide KreditBee with the bank statement pull-through account aggregator (AA)
Bengaluru-based Digitap.AI a bootstrapped alternate data-based risk management solutions provider today announced its partnership with fintech platform KreditBee to offer its services for strengthening the fintech’s underwriting process.
As a part of this collaboration, Digitap will offer multiple modes (like net banking, PDF upload, AA) to source the borrower’s bank statements. Further, it will provide a comprehensive analysis of the raw bank account statements and provide the variables required in the underwriting process.
The company will provide KreditBee with the bank statement pull-through account aggregator (AA).
During the trial phase, Digitap claimed to help KreditBee to source over one lakh bank statements through the AA framework. By March 2023, Digitap aims to help KreditBee fetch most of its bank statements via the AA module. The fintech player is witnessing a faster loan sanction process using Digitap’s solution, as it has become easier and more convenient for customers to provide their bank statements.
On the association, Nageen Kommu, founder of Digitap, said, “We are excited to associate with KreditBee, and assist them in going live on the account aggregator framework for an effective loan sanction process. As a certified technology service provider, we have built capabilities to assess financial data and improve credit decisions for financial institutions. We look forward to being an active contributor to the financial ecosystem and supporting the country's financial inclusion imperative.”
Madhusudan Ekambaram, CEO of KreditBee, said, "Our association with Digitap is a crucial one, as it has helped us improve our risk assessment and underwriting processes. This partnership will allow us to offer our customers more options and better access to credit. We are in the advanced stages to utilize the full potential of the account aggregator framework, through which we aim to strengthen the entire loan disbursal process.''
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As of the December quarter, Bessemer had owned a 7.75 per cent stake in the company, shareholding data with the bourse showed
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