Mumbai: Meghna Suryakumar is the Founder & CEO of Crediwatch a ‘Data Insights-as-a-service’ company that provides lenders, businesses with actionable credit intelligence on private entities they need to improve trust and increase their lending and trading activity.
Crediwatch does this with no human intervention by deploying the latest practical AI and technology tools that provide the most reliable comprehensive real time inputs.
Today most small and medium-sized enterprises (SMEs) face the problem of fragmented financial data, the fragility of risk models, and constant conflict between sales and credit.
Evaluating the credit vitality of SMEs turns into a drawn-out task for banks. This is why banks lose out on a lot of business if they follow traditional methods of analysing and evaluating risk involved with loan disbursement.
There’s nothing of the sort as one size fits all with regards to the risk analysis and credit intelligence required to monitor loan quandary faced by banks and financial institutions.
This creates 2 categories of market gaps:
- The banks are losing out on business because they do not have efficient tools to monitor the credit risk and help them in their entire credit journey
- MSMEs are left underbanked and underserved. Unreliable lending climate, complex regulatory requirements, and lack of collateral security call for a strong credit risk management system affluent by AI and ML technologies to analyse financial risks and help banks to make sound financial decisions.
Crediwatch is driving financial inclusion in the current situation and addressing the market gaps faced by banks and financial institutions.
CrediWatch is a data driven rating and information database platform which aids sophisticated credit and risk assessment models. Crediwatch picks up data from 25,000 different points which is the highest in the industry from already existing information in the regulatory framework.
The intelligence can further be deployed for risk management and analysis, due diligence and in future can be used for providing “TrustScore” for SMEs who are new to credit. CreditWatch also predicts Early Warning Signals and is receiving a lot of queries from NBFCs and financial institutions to help manage the credit on a more dynamic basis.
At Crediwatch, she seeks to realise her passion for solving large complex problems by using technologies such as AI, ML & NLP to provide a dynamic “Trust Score” on the unbanked SME, an untapped opportunity worth billions of dollars.