Lentra unveils 3 AI-powered solutions for the financial sector

Lentra, the digital lending platform, on Wednesday, introduced three AI-powered products tailored for the financial sector at the Lentra Digital Lending Summit in Mumbai. 

During the event, the company unveiled Lentra Convo, Lentra Insights, and Lentra Wingman, aiming to provide lenders with efficient solutions to streamline lending processes. The company also incorporated 40 new functionalities into its existing products, strategically designed to harness the potential of AI and offer practical utility for Banks and NBFCs. 

Lentra Convo facilitates natural conversations in various Indian languages, simplifying the loan origination process. This product ensures a personalized experience for end-customers in terms of language, contributing to an enhanced lending process. 

The second launch, Lentra Insights, offers actionable intelligence to lending institutions, optimizing credit policies and loan journey design. 

Similarly, Lentra Wingman supports loan underwriters by summarizing financial information from multiple sources, such as bank statements. This tool can identify relevant financial details, processing them in the form of natural language questions. Human underwriters can then focus on addressing questions related to loan applications requiring additional scrutiny. 

“The evolution of trends in India's credit consumption narrative demands thorough understanding and analysis. At Lentra, we strive to meet the increasing demand for personalization and localization by harnessing the power of AI, ensuring accessibility for our clients.” - Ankur Handa, Chief Product Officer at Lentra. 

"AI has recently garnered widespread attention for various reasons, with its capacity for human-like interactions standing out. Aligning with our mission to transforming lending by empowering lenders to democratize credit and foster financial inclusion through intelligent decisions, we are thrilled to introduce a wave of AI products and AI-infused features. With this extended portfolio, we are confident that our clients will experience significant enhancements in their business, equipped with actionable intelligence." – Rangarajan Vasudevan, Chief Data Officer at Lentra. 

The company actively applies AI to automate solutions for Banks and NBFCs in India, utilizing machine learning models to identify potential borrower segments, implementing AI for customer engagement, and employing behavioral intelligence for upsell and cross-sell opportunities through hyper-personalized product recommendations.