Lentra Launches Intelligent Lending Cloud Innovation
Lentra has introduced its Intelligent Lending Cloud Platform during their annual flagship event, the Lentra Digital Lending Summit.
Representing a significant leap in integrating AI within the digital lending platform, Lentra introduces three cutting-edge AI-driven products. Additionally, it incorporates 40 new functionalities into its existing products, all meticulously crafted to leverage the potential of AI and deliver practical utility for Banks and NBFCs.
Ankur Handa, Chief Product Officer at Lentra, said, “The evolution of trends in India’s credit consumption narrative demands thorough understanding and analysis. At Lentra, we strive to meet the increasing demand for personalization and localization by harnessing the power of AI, ensuring accessibility for our clients.”
Lentra’s Intelligent Lending Cloud solution is designed to address the evolving need for Vernacular Languages to expand reach, accelerate processing speeds, and reduce cost of operation.
Rangarajan Vasudevan, Chief Data Officer at Lentra, said, “AI has recently garnered widespread attention for various reasons, with its capacity for human-like interactions standing out. Aligning with our mission to transforming lending by empowering lenders to democratize credit and foster financial inclusion through intelligent decisions, we are thrilled to introduce a wave of AI products and AI-infused features. With this extended portfolio, we are confident that our clients will experience significant enhancements in their business, equipped with actionable intelligence.”
Lentra is actively advancing application of AI in intelligently automating solutions for Banks and NBFCs in India. The initiatives include leveraging Machine Learning Models to identify potential borrower segments within the existing customer base, employing AI for intelligent customer engagement and lead nurturing. It utilizes behavioral intelligence to enhance upsell and cross-sell opportunities by implementing hyper-personalized product recommendations for the bank.
These initiatives, rooted in impactful applications, are a testament to Lentra’s commitment to innovation. Their intelligent cloud lending platform addresses current needs and anticipates market evolutions, positioning their partners ahead of the curve.
Cyrus Daruwala, Managing Director, Global Financial Services, IDC, said, “With NIM itself becoming a non-differentiative commodity the focus amongst banks is becoming “experience”. How do we create a simple, easy and yet a WoW experience for our new customers? That is where the real differentiator lies! In the world of lending there are quite a few one-trick-ponies that address various components of lending. This is where someone like a Lentra is uniquely different. Their AI-powered solutions remove the friction from the entire lending and collection process, enabling decisions that are faster, fairer, and more accurate. We are impressed with how Lentra is continuously pushing the boundaries of their intelligence-embedded solutions and creating the WoW experience for end customers.”
