SB Solutions

SB Solutions, a leading provider of innovative lending automation and management solutions, has announced its partnership with finbots.ai, a Singapore-headquartered company with an innovative AI-powered credit risk modeling platform, creditX. This strategic partnership paves the way for banks and financial institution in Nepal to adopt advanced digital risk modeling practices powered by AI and machine learning solution of finbots.ai.

finbots.ai’s flagship solution brings unparalleled accuracy and efficiency to credit scoring. By harnessing the power of AI and machine learning, its solution enables financial institutions to build high-accuracy credit scorecards rapidly across the credit lifecycle, covering applications, behavior, and collections. Its key features include the highest accuracy levels, fastest time to value, transparency, ease of use, flexibility, and affordability.

SB Solutions has a proven track record in delivering cutting-edge software solutions that enable digital transformation in lending processes in Nepali Market. With products like Loan Management System, Instaloan, and Remit Loan, SB Solutions is at the forefront of driving innovation and streamlining lending operations.

“We are delighted to collaborate with SB Solutions to bring creditX to Nepal. Our goal is to empower financial institutions with AI-powered credit scoring capabilities, enabling them to make more accurate, efficient, and informed lending decisions. Together with SB Solutions, we have a like-minded innovative partner with a shared vision of empowering banks with efficient credit decisioning capabilities in Nepal,” said Mr. Sanjay Uppal, Founder and CEO of finbots.ai.

finbots.ai’s platform creditX is one of the first Fintech solutions to complete AI Verify, the world’s first AI framework launched by the Singapore regulator to objectively validate the quality and performance of AI. Additionally, finbots.ai partners with leading players such as PwC and Tata Consultancy Services, and was selected by the Monetary Authority of Singapore as one of the top 10 FinTech companies in Singapore in 2022.

This collaboration between SB Solutions and finbots.ai will strengthen credit underwriting processes, leading to increased approval rates of more than 20% and a reduction in loss rates by more than 10%. Moreover, creditX enables instant decisioning, significantly improving operational efficiency and reducing costs by more than 20 per cent.

“We are excited to partner with finbots.ai to introduce their AI-Powered platform in Nepal,” said Mr. Sanjog Mishra, Founder and CEO of SB Solutions. “This collaboration aligns perfectly with our mission to provide our clients with innovative solutions that drive digital transformation and enhance lending operations. By leveraging the creditX solution, our objective is to create higher accuracy, faster decision-making, and improved efficiency to credit underwriting in Nepal.”

Both SB Solutions and finbots.ai are committed to working closely with financial institutions, regulators, and industry stakeholders in Nepal to ensure a smooth integration of the AI-Powered Credit Scorecards, ultimately driving financial inclusion and sustainable economic growth in the country.