Saturday, July 13, 2024
Perfios Receives Dual Recognition for Account Aggregator Use Cases in Lending at SamvAAd 2023
  SocialTwist Tell-a-Friend  

MUMBAI, India, May 31, 2023 /PRNewswire/ -- Perfios, the leading data and decisioning solution provider in India, proudly announces its recent accolades at the prestigious SamvAAd, a Sahamati event, for its outstanding implementation of two innovative use cases of Account Aggregator (AA) in the lending domain.

Perfios was recognized for being a Technology service provider (TSP) for FIP/FIU modules to implement 'Cashflow based business loans with AA' for Axis Bank and 'Short-term digital loans with AA' for HDFC Bank, showcasing the company's commitment to revolutionizing financial institutions' lending processes.

This year's SamvAAd-2023, the first-ever annual conference for the Account Aggregator ecosystem, was successfully conducted by Sahamati, an Alliance for the Account Aggregator Ecosystem. Over 900 delegates came from a range of sectors, including banking, mutual funds, insurance, microfinance, and fintech, for the one-day event.

With its unwavering focus on providing cutting-edge solutions, Perfios has demonstrated its expertise and garnered appreciation from the industry for these two remarkable use cases. Today, Perfios is India's largest TSP for FIPs /FIUs with 70% of success rate across all AAs on its platform.

The first awarded use case, 'Cash flow based business loans with AA,' Perfios by analyzing the cash flow patterns, enabled Axis Bank to make data-driven lending decisions, resulting in more accurate risk assessment and enhanced customer experiences leveraging on Anumati, a regulated AA.

The implementation of this use case has brought significant efficiencies to Axis Bank's lending processes, ensuring quicker loan approvals and improved credit access for businesses.

The second award-winning use case, 'Short-term digital loans with AA,' was implemented in partnership with HDFC Bank, one of India's largest private sector banks. Perfios along with Anumati leveraged Account Aggregation capabilities to enable HDFC Bank to offer seamless and instant short-term digital loans to its customers.

By securely accessing and analyzing real-time financial data, Perfios empowered HDFC Bank to assess credit-worthiness rapidly and provide customized loan offers. This use case has not only streamlined the loan application process but has also expanded financial inclusion by making digital loans more accessible to a wider range of customers.

Mr. Vinay Sathyanarayana, VP - Products, Perfios, delivered an insightful keynote session on 'Building the data pipeline. To fuel finance' at SamvAAd 2023. The session shed light on the evolution of data, reasons to invest in the Account Aggregator framework, and much more.

Account Aggregation has emerged as a game-changing technology in the financial industry, allowing institutions to securely access and analyze customers' financial data from multiple sources. By harnessing this technology, Perfios has empowered banks to gain a holistic understanding of their customers' financial positions, resulting in more informed lending decisions, reduced risk exposure, and improved customer satisfaction.

Commenting on the awards, Mr. Vinay Sathyanarayana, VP - Products, Perfios, said, "We are thrilled to be recognized for our contributions in leveraging Account Aggregation technology to transform lending processes. These awards reinforce our commitment to innovation and excellence in the financial technology space. We extend our gratitude to Axis Bank and HDFC Bank for their partnership and trust in Perfios."

Perfios continues to push boundaries and collaborate with leading financial institutions to unlock the full potential of Account Aggregation technology. With its robust data and decisioning solutions, Perfios is revolutionizing lending processes, enabling faster loan approvals, and adding more use cases such as collections, monitoring, etc. driving financial inclusion in India.

About Perfios

Perfios is India's leading SaaS-based company that specializes in extracting, categorizing, and analyzing thousands of data types in real-time, helping financial institutions make real-time lending decisions by complying with privacy and compliance requirements.

Going beyond being just a data aggregation and analytics company, Perfios has skillfully aligned its decade's worth of experience and expertise to successfully develop multiple product lines powered by its in-house state-of-the-art AI/ML based data engines.

The company has extensive experience in data management and has leveraged this expertise to develop an InsurTech suite of solutions that cater to the Indian market.

For more information about Perfios and its innovative solutions, please write to us at


Gaurav Samdaria
Phone Number: +91 9819802177


Cision View original content to download multimedia:

More News by PR Newswire India


Kushal's Fashion Jewellery Festive Collection, adorned by Tara Sutaria, beautifully combines glamour and elegance

Unilumin Group Signed an Agreement with Saudi Arabia in the Third Belt and Road Forum for International Cooperation

Transport Corporation of India Ltd. (TCI Group) has been recognized as a Maritime Excellence Achiever at GMIS 2023 by The Ministry of Ports, Shipping & Waterways on 19th October 2023

Bitget Introduces 'Futures Quant' With AI Features

Bitget's Q3 Growth: Second-Highest Market Share Surge and Record High for BGB Holders

HarperCollins Publishers India is proud to announce the publication of SPREADING JOY: How Joyalukkas Became the World's Favourite Jeweller by Joy Alukkas with Thomas Scaria and Nidhi Jain

Go Global or Go Home: New Report Reveals Companies Lacking Global Presence Will Lose Growth Opportunities

MOVIN rolls out the second phase of Electric Vehicles in Bengaluru paving the way for greener deliveries in logistics

Motilal Oswal Financial Services Ltd. (MOFSL) launches #CorporateMushaira, an audio-first campaign for the World Investor Week

UBBF 2023 Intelligent IP Network Summit in Dubai an Impressive Success

Placing Them Right: IBS Path to MBA Career Success

HDFC ERGO reiterates its commitment on making health insurance Accessible, Affordable and Convenient with launch of 6 new products and 2 service upgrades

capSpire expands its global footprint with entry into the Singapore market

GTPL Hathway records its highest quarterly revenues from operation

CCTV+: International reporters experience the romance and vitality of Hangzhou, China

STL expands its Enterprise Networking solution portfolio with Estelan

Mantittude: Skincare for Men encourages men to unleash their inner 'Pataka' this Diwali

The 134th Canton Fair Opened with Optimized Structure and Upgraded Scale


Ugreen unveils power solutions and personal data storage at the Gitex Trade Show in United Arab Emirates.

Meridean Overseas Education Consultants Announces Half-Day Leave to Celebrate India vs. Pakistan Cricket Match

Xinhua Silk Road: Huai'an, UNESCO creative city of gastronomy, explores innovative dev. of food industry via premier regional food expo

Xinhua Silk Road: Fengxin County in E. China's Jiangxi celebrates bountiful harvest of kiwifruit

Casio to Release G-SHOCK Watches with Shining Metallic-Colored Dials

UEG Week 2023 : Babies with a low birthweight four times more likely to develop fatty liver disease in later life

CGTN: Diffusion of tea and its culture along the Silk Road

NEOM announces Leyja, its latest sustainable tourism destination

Expand North Star 2023 kicks off in Dubai gathering game-changing start-ups to accelerate on global stage

World Health Summit kicks off in Berlin

Hexaware Technologies announces new office in Dehradun to bolster its global delivery network

Chinese automotive industry has overtaken to supercars

Participants of the Made in Russia business mission to India held more than 150 negotiations with local importers and distributors

Rummy Passion Raises the Bar: Instant Withdrawals Now Available for All Tiers

MP CM Mohan Yadav puts an end to 'nightl...
'Repair of embankment of Munak Canal com...
'Not in our values to use such language ...
Assembly Bypoll Results: Congress leads ...
'Atal Bihari Vajpayee would have also im...
Valmiki Corporation scam: Bengaluru Cour...
 Top Stories
Pakistan court overturns conviction... 
BJP holds extended executive meetin... 
2014 Yarkand Massacre: East Turkist... 
The Art of Living: Wins two Prestig... 
Defence Minister Rajnath Singh disc... 
Sobha Group's Philanthropy - Sri Ku... 
Saucy Affair: Prioritizing India's ... 
Paris Olympics 2024: Antim, Aman se...