Baiduri Bank taps Finbots.ai to modernise credit risk management
Brunei’s Baiduri Bank has selected Singapore-based Software-as-a-Service (SaaS) fintech Finbots.ai to modernise its credit risk management using AI.
Baiduri Bank partners Finbots.ai
Finbots.ai says its AI credit modelling solution creditX will enable Baiduri Bank to “develop and deploy high quality credit scorecards at a fraction of the time and cost”.
“This will result in reduced credit risk, improved efficiency and greater agility for retail and small and medium-sized enterprises (SMEs) and accelerate the bank’s financial inclusion drive for the underserved credit market,” Finbots.ai says.
The partnership makes Baiduri Bank the first bank in Brunei to migrate to an AI-powered credit risk management solution.
“The use of new technologies and advanced predictive analytics for credit scoring creates fresh opportunities for banks to enhance the credit-decisioning process, thereby strengthening risk management and operational efficiency,” says Ti Eng Hui, CEO of Baiduri Bank.
“It is also one of the fundamental building blocks of a seamless omnichannel onboarding experience.”
In November, Finbots.ai signed Mongolia’s first neobank as a client to build out its digital lending business.
