How Fintelle is Bringing Financial Intelligence to New-Age Financial Services Companies

Fintelle was formed in October 2021, the brand covers KYC Solutions, Digital Customer Onboarding, and Fraud & Identity Management for financial services. It brings Authentication Technology, Alternate Data services, and Digital Solutions to the lending ecosystem, including new-age banks, NBFCs, Fintechs, Insurance, and E-Commerce companies. Fintelle’s AI-powered digital onboarding solution has been recognised by NASSCOM as the Top Innovator in AI for Enabling a Contactless World.

Fintelle is one of the verification solutions of AuthBridge that provides customer KYC and digital onboarding journeys in the BFSI sector.

At CIOL,  PratyushChandramadhur, Chief Business Officer, AuthBridge ResearchServices, has shared his perspective on how Fintelle is Bringing Financial Intelligence to New-Age Financial Services Companies.

Tell us about Fintelle and your offerings. Tell us about the team.

Fintelle is an AuthBridge brand, providing financial intelligence across financial services. The various services include Identity Verification, KYC Solutions, Digital Platforms, Decision Analytics, and Alternate Data Services. Fintelle is powered by KYC technology certified by NASSCOM under AI Gamechangers 2021 for enabling contactless onboarding. Fintelle is a pioneer in providing alternate data services, authentication technology, and business intelligence. The plug-and-play nature of our products and services empowers organizations across industries to conduct seamless onboarding and secure authentication of individuals and businesses. We have built customized platforms for our financial services partners to drive revenue, compliance, process efficiency, and operational risk mitigation across the customer life cycle.

AuthBridge, India’s largest authentication technology company founded in 2005, launched Fintelle to bring financial intelligence across new age banks, NBFCs, Fintechs, Insurance, Asset Management Companies, and E-commerce in October 2021. AuthBridge is led by Ajay Trehan, Founder & CEO, a veteran of building and operating successful businesses in authentication technology across Workforce solutions, BFSI solutions, and Business solutions. Fintelle is led by financial experts and innovations by our product team are constantly providing solutions that align with our partners and meet their requirements of providing credit to the unbanked, bringing customer convenience, and ensuring regulatory compliance while also optimizing cost.

As Chief Business Officer, I bring over 20 years of experience in financial services and Data & Information companies which include various leadership roles in Business Development, Risk & Fraud Management, Product Management, and Decision Analytics. We are a strong 30-member team across Product, Technology, Sales, and Customer Excellence.

What are the drivers/market trends that are shaping the Tech landscape in 2022?

The post-pandemic world is the world of digitalisation, automation, and the use of cutting-edge technologies to drive growth and operate at scale, even for financial services where tech adoption has always been a priority. It is predicted that IT spending by banking and investment services firms is forecasted to grow by 6.1 percent in 2022 to $623 billion worldwide. Rising adoption of technologies like artificial intelligence, machine learning, and robotic process automation will continue to drive automation of repetitive processes, risk assessment, and fraud prevention but these technologies will be challenged to work around customer needs - ease of interaction, data privacy, and one-stop solutions. In fact, Gartner says that 60% of large organizations will use one or more privacy-enhancing computation techniques by 2025.

How is Fintelle tapping these market trends for growth? Any changes for Fintelle?

We have made significant investments toward the adoption of AI and ML. Our document classification system uses OCR and image recognition to autofill details and catches Identity information anomalies. We provide various biometric solutions to authenticate customers in digital contactless environments such as liveness check, and voice biometrics where we verify customers in real-time through their unique biometric identifiers. These solutions are powered by cutting-edge technology and alternate data. At Fintelle, our focus is to simplify complicated Technology to provide easy-to-use solutions and services across the customer lifecycle. This facilitates contactless onboarding, digital underwriting, customer management, and business intelligence. In summary, we have aligned ourselves to these market changes and provide Technology-as-a-Service with an objective to create a one-stop solution as a plug-and-play model. This can simplify integration, providing access to data and at the same time optimizing costs.

How has your revenue grown with the brand evolving during the pandemic?

We have been actively engaged with most of our potential clients and have seen everyone focusing on Digital transformation as a long-term strategy. As we have been able to establish our digital capability which gives a competitive advantage to our clients, they have been very keen on partnering with us. We have signed up 120+ clients. With deep engagements on various propositions, our revenue growth has been 40% QnQ.

What has 2021 changed for you? How are things now?

We have seen our clients changing from “Watchers” to “Explorers” in the recent past. Each stakeholder in the BFSI ecosystem, be it Business or Risk is now aggressively focusing on digital adoption now. The sensitivity of the leadership team towards “effective digital adoption” is also witnessed, which was limited earlier. The shift is imperative to ensure optimal increase in profitability and reduction in Opex with technology advancements.

What are your growth priorities for 2022?

Our growth priorities revolve around building end-to-end solutions for our partners to massively enhance their revenue growth by way of digitizing manual processes. We are also focused on using alternate data to enhance the quality and speed of customer acquisition and transforming risk detection with data and real-time analytics.

Tell us about the company funding details

Fintelle is an AuthBridge brand. AuthBridge has raised two rounds of funding from Infinity Alternatives and Phi Capital in 2021.