Our Products Have In-Built Logics to Ensure AI Optimality”, Says Pratyush Chandramadhur

By S G Rickman On Oct 31, 2022

Data is all about numbers and patterns but it is not the same thing in Finance. Financial intelligence requires finding a fundamental proposition from the messy and multi-dimensional data, therefore requiring the right tools and applications to help financial companies efficiently handle the day-to-day complexities in customer lifecycle management. Fintelle, a financial intelligence company specializing in providing solutions to specific business challenges with AI-optimised tools believes that designing successful yet novel strategies is possible within the existing regulatory framework. Analytics Insight has engaged in an exclusive interview with Pratyush Chandramadhur, Chief Business Officer, AuthBridge Research Services.

1.Kindly brief us about the company, its specialization, and the services that your company offers.

Fintelle is an AuthBridge brand that provides financial intelligence to Banking and Financial Institutions. We bring cutting-edge Authentication Technology, Alternate Data services, and Digital Solutions to the BFSI ecosystem. Fintelle is powered by NASSCOM-certified AI capabilities and an analytical engine that has the potential to onboard up to 1 million+ customers every day.

Fintelle is built on top of a robust tech stack focused on real-time results, speed, scalability, compliance, and enhanced customer experience. The solutions offered by Fintelle use technologies like image analytics, optical character recognition (OCR), face match, video liveness detection, and digital address verification and digital signatures to facilitate contactless and paperless onboarding during account opening, lending, underwriting, agent onboarding, and customer management. Fintelle’s Video KYC and Digital KYC solutions can lead to up to 70% savings in operational costs and up to 90% in operational time. Its industry-first Digital Address Verification solution verifies the identity and address of an individual in near real-time using advanced analytical tools and APIs. The Digital Document Transaction Management Platform offered by Fintelle is equipped with various digital signature options and leads to 10X faster document preparation and signing.

We are uniquely positioned to support financial services with our deep understanding of the domain and exposure to cutting-edge Authentication Technology and Alternate Data services. In addition to Alternate Data, solutions like Decision Analytics and Digital platforms support financial institutions to seize broader business benefits within the ever-evolving regulatory framework, especially in a post-pandemic world. Fintelle brings a sharp understanding of KYC guidelines, execution of various customer journeys, and seamless digital onboarding together at one place.

2.With what mission and objectives, the company was set up? In short, tell us about your journey since the inception of the company.

Fintelle’s aim is to integrate financial intelligence with modern banks, NBFCs, Fintech, insurance, asset management firms, and e-commerce. Fintelle is run by financial professionals, and our continuous innovation is aimed towards becoming the most-trusted brand in authentication technology and Digital platforms that are future ready at the industry level. Our solutions also provide rationalization of cost ensuring regulatory compliance. Building end-to-end solutions for our partners to significantly boost their revenue growth through the digitization of manual processes is at the top of our priorities. Additionally, we are concentrating on changing risk detection with data and real-time analytics and employing alternate data to improve the quality and speed of customer onboarding.

3.Brief us about the founders of the company and their contributions to the company and the industry.

AuthBridge, India’s largest authentication technology company founded in 2005, launched Fintelle in October 2021. AuthBridge is led by Ajay Trehan, Founder & CEO, a veteran of building and operating successful businesses in authentication technology across Workforce solution, BFSI solutions, and Business solutions.

Ajay Trehan is a pioneer in modern background screening process outsourcing. He founded AuthBridge in 2005 and has built the company into a leading authority on background check management in India. Today, AuthBridge is a quality-driven, best-practice company, delivering proven business impact, and risk advisory solutions to draw top clients, including Fortune 500 organisations.

4.Please brief us about the products/solutions you provide to your customers and how do they get value out of it

Fintelle offers a complete range of tech capabilities for authentication and verification of individuals and businesses. It offers an API gateway which covers 100+ APIs available as portal and plug-and-play modules. We offer KYC solutions, Corporate and Non-Corporate business information reports, Litigation checks, Digital address verification, and many more platforms and modules. All these are integrated with microservices for instant risk triggers and detection including liveness check, document forgery check and speech biometrics. Our goal at Fintelle is to deliver simple-to-use products and services throughout the cycle. This makes contactless onboarding, digital underwriting, client management, and business intelligence possible. In conclusion, we have adapted to these market shifts and offer Technology-as-a-Service with the goal of developing a one-stop solution using a plug-and-play methodology. This can make integration simpler while also making data accessible and optimizing costs.

5.What are your growth plans for the next 12 months?

Building end-to-end solutions for our partners to significantly boost their revenue growth through the digitization of manual operations is at the top of our list of growth priorities. Additionally, we are concentrating on changing risk detection with data and real-time analytics and employing alternative data to improve the quality and speed of client acquisition.

6.How do you see the company and the industry in the future ahead?

The sentiments of both users and technology providers are very positive and strong. The need of the hour is to digitize processes aggressively but with inbuilt risk mitigation & fraud identification tools. Fintelle is working towards providing advanced solutions catering to BFSI requirements.

7.AI is projected to be the next market. How is AI contributing to the making of your products and services?

AI and RPA are crucial ingredients to our solutions. AI-enabled modules are used by our clients in their onboarding, risk management & decisioning, and operation process automation. Fintelle products have in-built logics which can help use AI optimally. This helps arrest false matches and suboptimal output.

8.What is your biggest USP that diﬀerentiates the company from competitors?

Fintelle holds a perfect balance and amalgamation of technology capabilities and BFSI domain expertise. We have been able to provide innovative solutions catering to complex problems and opportunities available in the fast-changing BFSI space. We are completely aligned with the focus on customer data privacy and consent management wherever applicable and these have been taken care of in our journeys.

9.Kindly mention some of the major challenges the company has faced till now.

Lower and slower adoption of technology solutions by users is one of the challenges we have faced in the past two years. We have managed to turn this challenge into an opportunity with various feedbacks received from the users; we have been able to enhance our platforms and products with differentiated features like multilingual journeys; interactive walkthroughs. We have seen an exponential increase in the adoption with the immersion of easy-to-use tools.

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