The fintech startup gets recognised for using cutting edge technology such as artificial intelligence and machine learning.
- Crediwatch is currently being used by top banks and NBFCs in India, giving them the ability to predict financial distress with their respective commercial lending portfolios with a 12-month lead time.
9th September 2021– Crediwatch, a Bangalore-based ‘data-insights-as-a-service’ platform, has been selected to be part of the AIFinTech100, an annual list of 100 of the world’s most innovative AI solution providers for financial services selected by a panel of industry experts and analysts.
Crediwatch has been chosen for using artificial intelligence (AI) and machine learning (ML) to reshape financial infrastructure and services. The company provides lenders and businesses with the latest predictive credit risk intelligence (such as risk scores, ML-driven scorecards and early warnings via risk monitoring) to protect them against potential financial distress with upto a 12-month lead time.
The AIFinTech100 list is part of a series of studies that helps executives in financial services sort through all the noise and new suppliers to locate business models that are most likely to have a lasting impact on the industry. It is published by Fintech Global, a London-based global fintech market intelligence provider.
Founded by Meghna Suryakumar and Sandeep Anandampillai in 2016, Crediwatch generates insights using public financial data as well as alternative and private (consent) data from businesses. It caters to the needs of many banking and financial services companies, including State Bank of India, Aditya Birla Finance, IndusInd Bank and Deutsche Bank.
“As India’s leading digital trust platform, our aim is to promote trust in the business ecosystem. This selection to the AIFintech100 is a great honour for the entire Crediwatch team,” said Meghna Suryakumar, Founder and CEO of Crediwatch, adding, “We try to make the business insights as straightforward as possible so that both lenders and businesses can make better informed decisions. This recognition gives us further impetus to continue innovating and creating breakthrough products.”
A recent report highlighted that India’s FinTech market is valued at USD 31 billion and will reach USD 84 billion by 2025. The calendar year 2021 has already seen more investment into Indian fintech startups than 2020. With India going through unprecedented digital and financial transformation, fintech startups like Crediwatch have become the bridge to the future for financial institutions and small businesses alike.
