CredAble, a major Indian fintech firm focused on supply chain finance, has joined forces with Aditya Birla Finance Limited, a key player in the financial services sector, to revolutionize Micro, Small, and Medium Enterprises (MSME) lending in India. The collaboration seeks to bring about a paradigm shift in the conventional MSME financing model through the application of advanced analytics and cutting-edge technology.
Leveraging CredAble's advanced solution, ABFL has experienced a significant surge in lead flow, generating around 80,000 leads in the past six months. The collaboration has facilitated the creation of a substantial database for ABFL, enhancing analytics for cross-selling various products like Merchant financing, top-up loans, and equipment financing. Moreover, the implementation has contributed to an increase in Net Interest Margins (NIMs), showcasing the efficiency of the integrated solution. Relationship Managers now efficiently handle both manually and digitally sourced leads.
To enhance ABFL’s digital lending capabilities, CredAble has introduced a versatile digital underwriting solution encompassing dynamic case management, intelligent workflow, and robust credit risk and decisioning support systems. This digital underwriting expertise has enabled the launch of Udyog Plus, an end-to-end solution addressing critical pain points in the B2B lending process, thereby supporting the diverse needs of MSMEs in the SME ecosystem.