Lentra AI Private Limited, a digital lending cloud platform, has announced the acquisition of Chennai and Singapore-based AI company TheDataTeam (TDT).
Lentra will deploy TDT’s behaviour intelligence platform Cadenz to help banks and financial institutions make better data-driven decisions on customer creditworthiness based on their unique financial journey.
“This will help launch new innovative products for a faster go-to market,” said Lentra in a press release.
The cloud-native platform works with over 50 banks and financial institutions, and has processed over 13 billion transactions.
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Talking about the development, Rangarajan Vasudevan, Founder & CEO, TDT said “Software is eating the world, and data is eating software. While the uses of AI are many, the ability to have a lasting impact is immense in the financial sector due to the vast untapped potential for credit. Lentra has already established itself as the fastest growing lending cloud. Given both companies had ambitions to scale fast in adjacent spaces and in the same geographies, it made perfect sense to merge our strengths in product and business building.”
Sandeep Mathur, Chief Revenue Officer, Lentra said, “We are seeing an explosive growth in the credit market. Some of our clients have grown their Loan book by 10X after coming onboard the Lentra lending cloud.”
“By integrating Cadenz platform into the Lentra lending cloud we will be able to provide an even bigger competitive edge to our clients in the entire credit lifecycle, from lead generation through origination to and the post-disbursal activities of loan management system, monitoring,collections and risk management. With this acquisition of Cadenz, Lentra is now on track to become the leading platform of choice for financial institutions globally,” he added.