Sathapana Bank, one of the leading commercial banks in Cambodia, is collaborating with Singapore-based fintech firm, finbots.ai, to strengthen its credit risk management processes.
With more than 170 outlets, the bank has the second-largest branch network in the country and it offers a wide range of banking and financial services for consumers, businesses, and Small and Medium Enterprises (SMEs).
The bank will use finbots.ai's AI-led credit modelling platform – creditX, to assess the creditworthiness of applicants for personal, home and agriculture loans as well as loans for SMEs, "thereby accelerating business growth with lower risks", the company said.
Sathapana Bank’s CEO, Fung Kai Jin, said creditX will help strengthen credit risk management, enhance operational efficiency and agility, and help provide better credit access to clients.
Additionally, the bank will be able to build high-accuracy behaviour scorecards on demand, to manage portfolios in real-time, allowing it to proactively reward good customers and take mitigating action for risky customers.
This will result in lower credit risks, higher approval rates and greater operational efficiency for the retail and SME business, he said.
finbots.ai was chosen by Sathapana Bank after an extensive evaluation of the accuracy, time to value and stability of scorecards generated by creditX.
This included a Proof-of-Concept where the Bank's team built custom scorecards using their historical data, and conducted independent 'out of time' validations of the scorecards.
finbots.ai’s Founder and CEO, Sanjay Uppal said the AI platform will open new opportunities for the bank across the full credit lifecycle and enable the bank to profitably grow its lending business with adequate guardrails.