IIFL selects FinBox for its AI credit decisioning platform, Sentinel

By Gloria Mathias

FinBox, a credit infrastructure provider, has developed an AI-powered credit decisioning platform called Sentinel that has led to streamlined loan processing, enhanced efficiencies in the lending process, and improved risk monitoring.

IIFL, a non-banking financial company (NBFC), has adopted Sentinel to disburse personal and business loans on a scale.

Arihant Jain, Head of Product, Data Science and Analytics at IIFL Finance said, “Sentinel serves as both a business rules engine and a credit risk management platform, empowering risk experts to make timely decisions. This capability is especially crucial in today’s landscape, as NBFCs grapple with rising delinquency rates and compliance challenges from complex digital lending partnerships.”

Besides decision automation, the platform’s risk analytics stack informs risk officers to engage with each customer and drive value in four areas: boost customer acquisition, reduce operating costs, mitigate credit risk, and increase customer lifetime value.

Rajat Deshpande, the CEO and Co-Founder of FinBox noted, “For sustainable lender-FinTech partnerships, we believe that the lender should feel equally equipped to effect changes and drive business decisions. A solution such as Sentinel incentivises collaboration between lenders and platforms as both the stakeholders are equally empowered by technology to make the most of digitalisation”.

The IIFL-FinBox partnership is the shared aspiration to achieve financial inclusion-focused loan growth. Sentinel leverages the latest advancements in AI/ML to help strike a balance between pursuing growth opportunities and ensuring effective risk management.

FinBox is a FinTech start-up based in Bangalore that provides embedded finance infrastructure and digital lending solutions to start-ups and enterprises across the globe. The FinBox suite works across alternate data scoring, embedded credit lines, financial data integration, and analysis.