Scienaptic is a AI product company based out of New York and Bangalore. It started out in 2014 to help banks make smarter credit decisions, reduce credit losses and expand credit availability across the spectrum.
- Its underwriting product Ether has world's most advanced AI on credit origination and credit line management that deliver 25-35% savings in credit losses or higher approvals
- The product is powered by a proprietary AI engine that uses 1000s of signals & models on enterprise class big data architecture, and simulates “customer consciousness”
- Scienaptic’s clients have experienced significant gains within months of deployment. In a recently concluded implementation, it delivered:
- Lesser Losses: $151 M savings in bad dollars at current approval rates and line assignment
- Better Journeys: $278 M opportunity to drive more engaged, high spend-low risk journeys
- More Revenues: $708 M incremental spend and $17 M incremental finance charges
Scienaptic was founded by Pankaj Kulshreshtha, a seasoned Risk leader who is well known for his pioneering work in scaling Risk Analytics at GE and Genpact. The company is backed through strategic funding by Pramod Bhasin, former Nasscom Chairman.