With ML capabilities, Datacultr has been able to significantly reduce the magnitude of damage when it comes to default in payments.  Actionable Insights - providing actionable insights and setting up triggers that can alert them against potential frauds and asset resale. As per a recent report by RBI, the total amount in bank frauds rose 74% to Rs 71,543 cr in FY19.

The rest are hesitant to lend to first-time borrowers because of the increased risk of default.Datacultr allows vast amounts of data to be handled in a short time, helps to manage both structured and unstructured data. Currently, there are only a few players in India who are willing to disburse loans to people without any credit rating references. Its first-of-its-kind platform has been a key enabler for these companies by significantly reducing the default rates with the help of Machine Learning.Educating the borrowers -  Datacultr technology acts as an added incentive for users to repay their loans. Datacultr leverages this data to chalk out changes in customer behaviour which might hint at a potential fraud.

Datacultr allows vast amounts of data to be handled in a short time, helps to manage both structured and unstructured data, a task that would take too much time for a human to do. With ML capabilities, Datacultr has been able to significantly reduce the magnitude of damage when it comes to default in payments. However, the rise of machine learning can prove to be a game-changer for these banks, Non-banking financial companies (NBFCs), and fintechs. Defaults in consumer lending space have been a matter of concern for years. Every day, users generate tremendous digital information with identifiable patterns on their digital devices.