India’s Leading BFSI and FinTech Companies 2023

India’s Leading BFSI and FinTech Companies 2023 | 69 [ EXPERT’S VIEW ] PLEASE SHARE THE ONLINE PSB LOANS JOURNEY SO FAR Establishedintheyear2015,OnlinePSB Loans Limited (OPL) is a revolutionary digital credit infrastructure solutions provider that develops and integrates cutting-edge technologies toautomate and digitize the lending processes for both borrowers and lenders, by creating a completely scalable system. Over the years OPL’s lending platform psbloansin59minutes.com has developed a credit marketplace for borrowers and lenders to simplify the borrowing experience and ease in credit access. psbl oans i n59mi nutes . com was launched after a thorough analysis of f inancial and entrepreneurial ecosystems tosave substantial timeand costs in lending. OPL has developed multiple white-label solutions across various products for both public and private sector banks. JanSamarth.in is another platform created by OPL. It is a one-stop digital portal that links 12 different credit- linked schemes on a single platform. The platform uses smart analytics to help borrowers find the best loans for their business needs, livelihood needs, and education. It also helps borrowers check if they are eligible under any credit-linked schemes. Under SIDBI’s mentorship, OPL co-developed FIT Rank, a credit rank based on Finance, Income, and Transaction data with Online PSB Loans Limited Jinand Shah Chief Executive Officer & MD TransUnion CIBIL. A first-of-its-kind rankingmodel for MSME lending using AI/ML, FIT Rank leverages the power of GST, Bank Statements, and ITR. The predictor assesses the probability of anMSME becoming a non-performing asset (NPA) in the next 12 months- a credit default predictor of this sort is the first of its kind in the industry. OPL is closely working on the process of opening its infrastructure for other players by leveraging the infrastructure for segments like banks, financial institutions, and industry ecosystems. HOW ARE ONLINE PSB LOANS SUPPORTING FINANCIAL INSTITUTIONS IN CREATING EASE OF FINANCE AND EASE OF DOING BUSINESS? OPL lending inf rast ructure i s a microservices-driven architecture where each module can be equipped partially or fully in the ecosystem, based on the requirement of the lenders. The entire platform is scalable, and themodules can be easily adapted into any lender’s ecosystem for quicker lending. OPL has created several end- to-end financial solutions for financial institutions, such as GST Sahay, Udaan, and Prayaas. Psbloansin59minutes.com is the lending marketplace that integrates major banks and financial institutions onto a single platform with borrower proposals screened by the platform, to save lenders time and money. The platform analytics with 1,000+ checks help themfind early warning signs and its banker interface enables real-time user management, product creation, scoring models, credit appraisal, and decision-making. While FIT Rank enables banks and financial institutions to assess more MSMEs profiles with sharper risk differentiation combined with CIBIL MSME Rank (CMR) to enhance risk differentiation capability. The New to Credit (NTC) base can be assessed using alternative data, and FIT Rank encourages adoption of digital lending procedures, enhancing efficiency and reducing loan decision time. WHAT ROLE DO DATA AND TECHNOLOGY PLAY FOR OPL? Data and technology have been pivotal in OPLs journey into becoming a robust credit infrastructure solutions provider. Customer data generated online is being utilized to improve underwritingmodels, reduce customer acquisition costs, and establish early warning signs. OPL leverages MSME data from various sources to create a scalable infrastructure for faster credit and ease of decision-making for lenders. Sophisticated algorithms analyze data points in real-time, providing authenticatedborrower data to financial institutions and helping them make sound lending decisions. Dun & Bradstreet