Underwriting the Unbanked

RightProfileTM turns your challenges of financial inclusion into a growth opportunity. According to World Bank, there are 1.7 billion unbanked adults in the world., almost one-third of them live in seven countries namely India (11%), Indonesia (6%), Nigeria (4%), Mexico (3%) and Bangladesh (3%). Capture this untapped market to build a lending book with better bottom line using RightProfileTM.

Focused on making priority lending profitable to you

Our priority is to help you identify valued customers within the priority sector. With specialization in mortgage, home loan, home equity within priority lending, we have developed RightProfileTM to help you accurately rationalize risk for the sector focusing on MSME, affordable housing and thin-file individuals

Advanced Credit Analysis- The superpower of your on-field force

In the form of tablet/mobile underwriting software & application, RightProfileTM assists your loan officers through every decision and minimizes the scope of human error and misjudgment. Our proprietary algorithm performs Advanced Credit Risk Assessment based on your customer segment. Understanding the power of asking the right questions, we have formulated one-click customer templates with custom questions after extensive research. These questions will help you build comprehensive, 3-dimensional credit risk assessment report taking into account the financial status, business profile, personal standing.

Underwriting the unbanked with intelligent information

Consistent data security and data privacy are hygiene for us. The process of converting the data collected from the customer to actionable insight is a tedious one when done manually. RightProfileTM is AI-powered and it leverages machine learning for efficient data handling, migration and automatically converting data into information of different formats. The true power of your data is unleashed after reaching a certain vantage point; RightProfileTM predicts the outcome based on pattern analysis of your legacy data.

A confident decision with rationalized risk

RightProfileTM is a comprehensive tool with every situation factored-in. It alerts your team about potential risks as early as at the pre-qualification stage. During credit risk assessment, we help you research your lead’s competitors. We run a thorough scientific algorithm in the background which formulates a lending decision recommendation in half a minute.

Tailored Experience with Higher Returns

RightProfileTM comes with embedded consultation to ensure that it fits your existing IT and business systems. Our experts review your as-is state and implement RightProfileTM to overcome identified inefficiencies. You get a tool customized as per your individual lending rules, risk appetite, policies and guidelines. You can either use it as an end-to-end lending tool or effortlessly integrate it into your existing systems.

RightProfileTM: Customer-segment Driven Unbiased, Comprehensive Profiles

Your feet-on-the-street force is the first point of contact between your potential client and your business. When an on-field loan officer interviews your future client, their mind is occupied with your policies, ever-transforming guidelines, regulations, targets, the last client they met. It is entirely dependent on them to use their critical thinking to identify a user type, formulate suitable questions on the spot, get actionable insights, interpret their answers, turn various data points into unbiased information and correctly fill assessment and review documentation. His/her priority is to achieve a given target - gathering quality data and making zero errors are second to that. Any unforeseen circumstance is prone to cause discomfort to him/her. A confused, doubtful and unsure underwriter is not the proper representation of your brand.

RightProfileTM underwriting software supports your on-field officers and shares their responsibilities, in turn, boosting their productivity, mitigating human error, enabling true unbiased information.

  • Platform targeted at handling: MSME / informal sector with New to Banking and New to Credit customer having thin file
  • Accurate Customer Profiling based on Personal, Business, Financial determinants
  • On-field access to your policies
  • Pre-templated critical data capture points across segments
  • Primary Segregation on two parameters:
    • Documented Income
    • Undocumented Income
  • Secondary Segmentation on Nature of Business
  • Features like Geo-tagging, Document Upload, Video Upload
  • Standard assessment output
  • AI intelligence- spots patterns generally overlooked by humans
  • Data to Text

RightProfileTM: Efficient Conversion of Your Critical Data into Insightful Information Data into Insightful Information

Most banks and NBFCs have subdued usage of paper, especially for loan origination. However, resorting to excels and generic CRMs can cause irreversible inefficiencies like duplicate data, manual overhead in data migration and most importantly, limitation in building customer-specific approach. All your scattered customer data, from different platforms and all on-field officers, have to be collected and manually built into a data repository of multiple Customer Files fed into dozens of excels. In siloed organizations, when potential client’s non-standardized data reaches Underwriters, it is incomplete, biased, incorrect or missing. It might require you to return to the borrower multiple times to collect all the necessary documents.

Treating this non-standardized data implies regular overhead of copy and pasting each data item, across different channels, every time. Performing simple actions on this data like KYC verification, deriving statistical graphics or making minor changes is a tedious process of manually entering the information over and over again.

RightProfileTM ensures safe transmission of your customer’s data and one-click features that enhance its usability and reduce the time to process loan application:

  • Complete customer profile with all critical data points
  • Access to real-time dashboard across devices
  • APIs that facilitate seamless integration with your Loan Originations Systems, CRMs, and third-party systems and vendors
  • Policy Matrix - graphical representation of customer’s data
  • Output in a standardized easy-to-read report
  • Automatic eKYC verification

Scientific Assessment with Risk Rationalized at Every Step of the Lending Cycle

When it comes to lending to the priority sector, there is an undeniable tradeoff between willingness to take risks and investing on research, workforce, processes and tools to perform a scientific assessment to quantify the risk for thin-file clients. To profitably cater to this sector, asymmetry information is the key. However, purchased data is of inferior quality and data from self-reporting platforms are biased. According to Harvestroi, 9 out of 10 leads purchased did not contain the minimum qualification thresholds required to convert the leads into an actual sale.

RightProfileTM minimizes your efforts by pre-qualifying customers, identifying risks based on location and gives look-alike customer insights. Our report accurately rationalizes risk by quantifying and then recommends risk-based pricing.

  • Accurate Pre-Qualification: Early identification of risk potential and adequate alerts
  • Accurate Pre-Qualification: Spots risk characteristics like blacklisted locations
  • Look-alike Customer Personas
  • Business Competitor analysis: Predict customer’s business growth
  • Risk-based Pricing: Based on holistic assessment
  • Half a minute lending decision recommendation
  • Profile analysis as per the proposed loan amount
  • Preductive Default: When your book reaches required vintage, RightProfileTM will accurately predict outcome and unleash the scope of your big data.