Industry veteran Shah to market expansion
Singapore-headquartered ADVANCE.AI has expanded with offices in Bangalore and Delhi with a plan for third office in Mumbai to help accelerate the digital capabilities of India’s banks, financial services, retail, and e-commerce sectors.
ADVANCE.AI said it is already working with over 100 clients in India including CASHe, one of India’s leading app-based credit lending platforms, and Fintopia, a leading fintech firm in Asia.
Announcing the opening of offices on 24 Mar 2020, the company said its immediate focus is on hiring strong local talent and driving product innovation, which includes our recently-launched video KYC capability which is fully compliant with Reserve Bank of India (RBI) guidelines, to better serve and empower our India-based customers.
India business veteran Darshan Shah has also been appointed as Chief Advisor to its local operations since January 2020. Shah has over 20 years’ experience in credit scoring, alternative data, and digital lending at companies such as TransUnion CIBIL and Experian.
ADVANCE.AI India country manager Charles Zhang said: “We’re confident we can bring our technology leadership and local market expertise to accelerate the digital capabilities of India’s banks, financial services, NBFCs, retail, and e-commerce companies.”
The company has rapidly scaled up capabilities since 2019 and is working with over 100 clients in India.
ADVANCE.AI’s flagship enterprise product, Guardian, covers three major areas: Artificial Intelligence (e-KYC, intelligent process automation, chatbots), risk management (anti-fraud prevention, alternative credit scoring), and digital lending solutions.
Guardian boasts an accuracy of 99% for its e-KYC capabilities (facial recognition and OCR). The company has seen rapid growth across the six Asian markets it covers, achieving 350% year-on-year growth in API calls and 400% growth in enterprise clients. fiinews.com
