ADVANCE.AI: Empowering Businesses with Artificial Intelligence

CIO Vendor Artificial intelligence has become one of the fastest growing technologies in recent years and is ensconced in the core of the next gen software technologies in the market. The rise in number of innovative start-ups and advancements in technology have led to an increase in investment in AI-powered solutions. For instance, in the Financial Services segment, the advancement in AI is redefining how fraud and financial crimes are prevented, providing a holistic view of risk across functions in various domains from banking, insurance to internet finance and others. The AIpowered KYC engines are enabling banks to integrate the KYC processes into a four-step process by automating the uploading process, as well as the classification and scoring of KYC documents. However, most of the solution providers offer a standalone technology product which fails to overcome the overall challenges faced by the businesses and falls short of providing an end-to-end solution with scalability.

Understanding the aforementioned requirements and challenges, ADVANCE.AI has been successfully delivering next-generation big data and artificial intelligence technology to empower and transform financial services businesses. With deep domain expertise, speed of execution, and commitment to localization, the company provides a complete lending solution, right from on-boarding, decision to credit scoring to collections while aiding in deep portfolio analysis to ensure profitability. It works with a solution focused strategy and boasts of a deep understanding of the digital lending business which enables it to provide comprehensive solution to its clients combining both the product and service offerings. Our products are powering lending solutions of unicorns such as GoJek and Tokopedia. The company follows a customized consulting approach to accomplish this feat.

“ADVANCE.AI lending stack offers innovative products - Digital-KYC, SmartRuleEngine and Smart Collection suite as well as consulting for credit scoring and portfolio analysis, enabling our clients, typically enterprises, Fintech companies and NBFCs to quickly launch their lending business,” says Abhishek, Executive Director, ADVANCE.AI.
Empowering Companies to Minimize-Fraudulent Activities
With ever-increasing fraudulent activities in this volatile environment, ADVANCE.AI has been granting companies the ability to minimize fraud with their robust e-KYC solutions - OCR, ID card verification, Liveness Detection, Face Comparison and Risky Faces - which can effectively identify and block various fraudulent activities during verification processes while reducing manual operating costs.

One-stop Decisioning and Analytics Platform
Advance Smart Engine is a one-stop-decisioning and analytics platform. For instance, to take lending as an example, it helps risk managers to achieve complete life-cycle risk management, from different levels of data rules including precredit audit, loan monitoring and post-credit management, loan review rule sets and risk models based on Advance Big Data, AL/ML algorithms.

We are the only company that ensures complete outcome through product and consulting services with a core theme of Full Stack Lending solution for enterprises, Fintech companies and NBFCs

When it comes to empowering the clients with targeted marketing and cross-selling the company offers ADVANCE Connect which leverages partners' existing data using Artificial Intelligence techniques. Businesses can also leverage Guardian Booster which is an AI consultancy service, targeted at financial institutions, telecom operators, government agencies and others. ADVANCE.AI's Data Scientists work with partners’ data team to analyze and evaluate internal and external data and identify areas of improvement

“Currently, the market is filled with players who provide just piecemeal solutions. We are the only company that ensures complete outcome through product and consulting services with a core theme of Full Stack Lending solution for enterprises, Fintech companies and NBFCs,” concludes Abhishek.