Singapore-based FinBots.ai partners with Baiduri Bank, the first in Brunei to implement AI-powered credit risk management
Finbots.ai has teamed up with Baiduri Bank in Brunei to incorporate artificial intelligence (AI) technology in its credit risk management system. Finbots.ai is a business-to-business (B2B), software-as-a-service (SaaS) fintech in Singapore backed by a single investor, Accel.
Finbots.ai harnesses the power of AI to assist lenders in developing, validating and executing credit models throughout the credit cycle's application, collection, and management phases.
Credit modelling solution for scorecards
Finbots.ai's credit modelling solution, creditX, will help the bank to develop high-quality credit scorecards more quickly and efficiently, according to Finbots.ai.
Baiduri Bank hired market intelligence provider International Data Corporation (IDC) for its assessment and following IDC’s evaluation, the bank chose Finbots.ai to fulfil its current and future credit risk management requirements for its no-Code, AI-powered, SaaS-based credit-decisioning offering, which they say is a unique solution in the market.
Through this collaboration, Baiduri Bank is set to pioneer AI-led credit risk management solutions in Brunei, representing a strategic investment in business transformation to enhance operational efficiencies, analytical capabilities and customer experience.
Sanjay Uppal, founder and chief executive officer of Finbots.ai believes that creditX will revolutionise Baiduri Bank’s credit risk management value chain and enable it to offer access to credit at scale, fast, and at a lower cost.
Uppal said creditX is in high demand from financial services providers around the world and that the partnership with Baiduri Bank is a testament to the solutions’ ability to deliver smarter, swifter and more inclusive lending. Cyrus Daruwala, managing director of IDC, commended Baiduri Bank’s focus on technology-led customer experience and its approach to future-proofing credit modelling and risk mitigation.
Baiduri Bank, a major provider of financial services in Brunei Darussalam, services a diverse range of customers in retail, micro, small and medium-sized enterprises (MSMEs), as well as corporate and institutional clients. The bank has distinguished itself by embracing modern technologies, earning international accolades as the best bank in Brunei and APAC.
