Posted by Mumbai: Lentra, a digital lending platform, introduced its Intelligent Lending Cloud platform during its annual flagship event. The company introduced three AI-driven products — Lentra Convo, Lentra Insights, and Lentra Wingman. Also, added 40 new functionalities to its existing products to leverage AI and deliver practical utility for banks and NBFCs.
Lentra Convo:
To cater to lenders operating across varied geographic and cultural moorings, Lentra Convo brings the power of natural language conversations in multiple languages to simplify the loan origination journey. The AI-backed innovation enhances the lending process while providing end customers with a personalised, convenient and seamless experience in the language of their choice.
Lentra Insights:
Insights provide actionable intelligence to the lending institution, to better optimise credit policy and loan journey design. Coupled with AI-generated recommendations, lenders can now assess the impact of credit policy rules and change policy parameters to drive higher take-up rates. This one-of-a-kind tool will be of great value to lenders in boosting their asset businesses.
Lentra Wingman:
Wingman helps directly to the underwriter. It intelligently summarises financial information from various sources in typical credit journeys like bank statements and related financial transaction records. It then automatically identifies financial behaviours that need further investigation by the underwriters.
Such instances are then articulated as natural language questions that the customer-facing operations executive can air to the loan applicant to get needed clarifications. Thus, it guides the underwriter to focus only on those loan applications requiring further scrutiny, along with the specifics of that application that merit attention, all in a form factor that makes it easy for more information to be collected seamlessly to speed up decision-making.
“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 personalisation and localisation by harnessing the power of AI, ensuring accessibility for our clients,” said Ankur Handa, CPO of Lentra.
Lentra’s Intelligent Lending Cloud solution is designed to address the evolving need for vernacular languages to expand reach, up processing speeds, and reduce operation costs.
“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,” said Rangarajan Vasudevan, CDO of Lentra.
Lentra is actively advancing the application of AI in intelligently automating solutions for banks and NBFCs in India. The initiatives include leveraging Machine Learning (ML) models to identify potential borrower segments within the existing customer base, employing AI for intelligent customer engagement and lead nurturing. It utilises behavioural intelligence to enhance upsell and cross-sell opportunities by implementing hyper-personalised product recommendations for the bank.
These initiatives are a testament to Lentra’s commitment to innovation and its intelligent cloud lending platform addresses current needs and anticipates market evolutions.
“…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,” said Cyrus Daruwala, MD – Global Financial Services, IDC.