Credit Compass: August Edition
Welcome to the 2nd Edition of The Credit Compass from Accumn- Formerly Corpository, The go-to source for analyzing the latest insights and innovations in credit underwriting.
This edition we got a rebrand!
Corpository has vested, improved, and evolved into Accumn- Precision With Every Decision!
Accumn Launched At Global Fintech Festival 2024!
Day 1
Mr. Gopal Srinivasan, Chairman of TVS Capital Funds and a strong advocate for Accumn- Formerly Corpository, inaugurated the company's booth at GFF 2024, revealing its new identity. His mentorship, which began when Corpository joined the Yubi Group, has been instrumental. Many eminent industry experts and veterans at the booth also offered their take on the revamp as well. Most of them believe that this evolution reflects a renewed focus on supporting better, fairer, and more transparent credit decisioning.?
Day 2
Mr. Nirav Parekh, Head of Strategy at Kotak Mahindra Bank, visited the booth and shared insights on how alternative data and AI can enhance credit decisioning for lenders.
Day 3
With the presence of the honorable Prime Minister of India, Narendra Modi the GFF fever got to its peak. Accumn launched new products including the easy, one-stop credit underwriting solution, Unified Journey. This garnered much attention from the impressive crowd at the event.
Accumn’s Aim
Accumn is the world’s only objective credit decisioning platform powered by AI. The name, derived from "Acumen," reflects our aim to equip credit managers with the ability to make sound, unbiased, and responsible decisions. By combining human expertise, data, and AI, Accumn aims to promote a more balanced and transparent approach to credit underwriting.
Accumn’s Vision: "Innovate the financial world with objective credit decisioning, empowering lending through precise, AI-driven solutions that revolutionize the complete credit lifecycle."
Accumn’s Mission:
"To revolutionize credit underwriting through innovative solutions that enhance risk assessment, streamline processes, and ensure regulatory compliance, enabling our clients to lend with confidence and agility."
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The Roundup
Testimonials
Prashant Sharma , Senior Vice President - Credit Strategy Head at HDFC Bank was keen on sharing his opinion on how with Accumn's new solutions GST and ITR journeys have been digitized and in effect streamlines.
Check out the full video here.
Noted In The News!
RBI Mandates Compulsory Borrower Credit Monitoring Platforms For Banks, NBFCs, and Other Lenders
The RBI has mandated that by January 2025, borrowers across banks, NBFCs, and other lenders must compulsorily use credit monitoring platforms to assess borrowers. RBI’s Financial Stability Report highlighted key concerns in the consumer credit segment of NBFCs. It flagged high delinquency levels in retail loans under Rs 50,000, particularly among NBFC-fintech lenders, as well as elevated vintage delinquency in personal loans at 8.2%. Additionally, many borrowers have multiple live loans, raising systemic stability risks. While NBFCs overall remain healthy, the RBI calls for close monitoring of fast-growing NBFCs with low capital buffers. Regulatory measures, including higher risk weights, have moderated growth in unsecured lending and bank credit to NBFCs.
Acumen offers all credit monitoring solutions with our state-of-the-art platform.
Accumn In The Limelight
Accumn’s launch was covered by multiple media outlets including Business Today , Your Story , Indiantelevision , etc. The general consensus was in ample favor of the shift.
The Bottom Line
In the ever-evolving landscape of credit underwriting, staying informed is crucial for making sound, data-driven decisions. As Accumn continues to innovate and lead the way with AI-powered solutions, the journey toward more transparent and efficient credit decisioning has only just begun. Don’t miss the next edition of Credit Compass, where we’ll dive deeper into the latest trends and tools shaping the future of lending. Stay connected, stay informed, and take the first step toward precision in every decision.