Revamped Financial Consultancy: A harmonious, technology-focused platform for all participants within the financial sector
In an ambitious bid to propel India towards a $5 trillion economy by 2027-28, the government and private sector are embracing cutting-edge technology to revolutionize the financial landscape. One of the most significant transformations is the rise of AI-powered lending platforms, which are set to become the largest revenue driver for India's FinTech sector, turning into a $1.3 trillion market opportunity by 2030.
These AI engines automate eligibility checks, credit scoring, and offer generation for unsecured loans using predefined logic and real-time inputs. They learn from deal outcomes, funded or dropped, to continually refine and improve decision-making logic. By analyzing structured and unstructured data, these engines intelligently pair businesses or individuals with financial products.
The AI engines also play a crucial role in addressing one of India's most pressing issues: financial inclusion and access to credit. Credit access remains a significant barrier for Indian businesses, with domestic credit to the private sector accounting for just 55% of the GDP, below the global average of 148%. The government is scaling up the Unified Lending Interface (ULI), a Digital Public Infrastructure (DPI) initiative designed to streamline lending.
AI-led insights can evolve this unified platform beyond a marketplace of services into an infrastructure layer for discovery, matchmaking, and real-time decision-making across the financial value chain. This consolidation of financial products and advisory services into a single ecosystem eliminates the long-standing fragmentation in the financial ecosystem.
The platform serves a key role in realizing the vision of Viksit Bharat, a financial ecosystem that is inclusive, self-reliant, and digitally empowered. MSMEs and individuals benefit from guided discovery, faster approvals, and improved access to capital. Insurance providers and lenders also lower acquisition costs and improve conversion rates.
Former bankers, now financial advisors, gain a tech-enabled platform to serve clients more effectively. The availability of business capital is crucial for fueling growth and contributing to the economy. The MSME sector in India faces a staggering INR 30 lakh crore credit shortfall, which these platforms aim to address.
However, the founder and CEO of the platform attempting to build a unified, data-driven platform for financial products and financial advisory to solve the credit access barrier for Indian companies is not clearly identified. While Alexandru Stratulat is noted as founder and CEO of SourceLess Blockchain focused on secure and user-friendly Web3 financial services, based in Romania, there is no explicit mention of his involvement in an Indian initiative.
Digital lending is poised to redefine India's financial sector, offering a wide range of financial advisory and lending solutions through a digitally integrated platform. As the country strives towards economic growth, these AI-powered platforms are set to play a pivotal role in driving financial inclusion and fostering economic development.
