FinBox Empowers Lenders to Expand Reach by 3X with its Credit Decisioning Platform Sentinel, IIFL Onboards the Offerin

3 min read

The partnership has enabled IIFL to

  • Streamline mortgage processing and improve efficiencies in the lending course of

  • Strengthen threat monitoring 

  • Reduce turnaround time to deploy insurance policies by over 95% , 

  • Increase attain by over 352% 

  • Expand the variety of lending insurance policies from 64 to 177 as a part of threat diversification 


FinBox, a credit score infrastructure supplier, has developed an AI-powered credit score decisioning platform referred to as Sentinel that has led to streamlined mortgage processing, enhanced efficiencies in the lending course of, and improved threat monitoring. 

IIFL, a number one Non-Banking Financial Company (NBFC) has adopted Sentinel, to disburse private and enterprise loans at scale. The integration of Sentinel helped IIFL scale back turnaround time by over 95%, improve attain by a formidable 352%, and develop the variety of lending insurance policies from 64 to 177 as a part of threat diversification. 


Arihant Jain, Head Product, Data Science and Analytics, at IIFL Finance stated, “Sentinel serves as each a enterprise guidelines engine and a credit score threat administration platform, empowering threat specialists to make well timed selections. This functionality is very essential in as we speak’s panorama, as NBFCs grapple with rising delinquency charges and compliance challenges from complicated digital lending partnerships.”

Sentinel’s AI/ML capabilities are designed to assist banks and NBFCs perceive and reply to their prospects’ ever-changing wants with precision, pace, and effectivity. Besides resolution automation, its threat analytics stack informs threat officers of the finest method to interact with every buyer and drive worth in 4 areas: enhance buyer acquisition, scale back working prices, mitigate credit score threat, and improve buyer lifetime worth. 

These advantages translate to the finish prospects (together with new-to-credit debtors) in the type of seamless experiences and customised mortgage presents at aggressive charges.


Mehekka Oberoi, Director of IIFL Open Neobank stated, “Given the dimension and complexity of our digital lending operations, the transition from a hard-coded guidelines engine to a centralised system of guidelines administration was inevitable. However, the actual problem lay in choosing the proper resolution administration software program from a market that’s quickly crowding. Yet, our selection was simple as a result of Sentinel isn’t one other run-of-the-mill BPM software program, it’s a complete lending system in itself.” 


When requested about the rationale behind creating such a product, right here’s what Rajat Deshpande, the CEO and Co-founder of FinBox had to say, “At a time when banks and NBFCs are dealing with heightened threat and complexity from outsourced companies and third-party relationships – an answer that helps them develop new threat administration capabilities and implement threat responses swiftly is the want of the hour. For sustainable lender-fintech partnerships, we consider that the lender ought to really feel equally outfitted to impact adjustments and drive enterprise selections. An answer equivalent to Sentinel incentivises collaboration between lenders and platforms as each the stakeholders are equally empowered by know-how to make the most of digitalisation.” 

At the core of IIFL-FinBox partnership is the shared aspiration to obtain monetary inclusion-focused mortgage progress. Sentinel leverages the newest developments in AI/ML to assist strike a steadiness between pursuing progress alternatives and guaranteeing efficient threat administration – which is essential to sustainability and stability of lending operations.


About FinBox

FinBox is a quickly scaling fintech start-up primarily based in Bangalore that gives embedded finance infrastructure and digital lending options to start-ups and enterprises throughout the globe. The FinBox suite works throughout alternate knowledge scoring, embedded credit score line, monetary knowledge integration, and evaluation. 


About IIFL

IIFL Finance Limited is one in all the main gamers in the monetary companies house in India. Together with its subsidiaries – IIFL Home Finance Limited, IIFL Samasta Finance Limited (Formerly generally known as Samasta Microfinance Limited) and IIFL Open Fintech Private Limited, it supplies a various vary of loans and mortgages.


About Author