Absolutely. Every fintech that has (or asks for access) to bank statements creates their own models based on the data. Tools like Perfios are used to machine read bank statements.

Founder

Account Aggregator platforms allows you to fetch bank statements with user consent and derive variables as per the use cases.

Product Manager

Hey Viners, wanted to know if the fintech companies have access to bank data, can they train models on these data and create better Credit Underwriting models ???  Would like to know your opinions ...

Welcome to News Discussion's Private Community

Hey Viners, wanted to know if the fintech companies have access to bank data, can they train models on these data and create better Credit Underwriting models ???

Would like to know your opinions on this especially fintech veterans and product and Engineering folks.

Underwriting mechanisms !!!

Software Engineer

Underwriting mechanisms !!!- Grapevine

Welcome to Fintech India's Private Community

We run a platform that works with SME'S , MSME's (can't disclose more on what kind, but like any transaction have buyers and sellers), have active 3 lakh users. 

The amount transacted is above 150+ crore every month.

We realised that these SME'S and the sellers have a lending cycle with the seller every 7-14 days. 

Got some queries for lending (Because these businesses run of cash flow), after in-depth research, we just realised the immense potential we have if we start lending to them (both the buyers & sellers - by lending + invoice discounting).

We already have all the data points since these users have been with us for a very long time.

What does the fintech community think, should we add the fintech-lending to our business? 

(P.s.:  Initial Projections show we start making 12-15 Crore net profit, after launch at 50% utilisation)

Fintech - Lending players -Share your expertise

Project Manager

Welcome to Personal Finance's Private Community

I want to know what does a fintech or a money management app does with all the data that they have. Do they sell it to other fintechs directly so they can sell products to customers or do they also sell it to brands for customer insights

Does Cred/ Fold sell data to brands?

Consultant

Welcome to Data Scientists's Private Community

Hi I am looking to up-skill and have been looking up various data science courses. To boot- I am into credit underwriting and risk management. Recently have joined a fintech in risk. 
Since underwriting risk entails a lot on economy data and industry data and understanding the underlying patterns i believe it is pivotal, I understand the data parlance. 
So hence looking for suitable courses.
NB: I have no knowledge of coding or data science.I know hopeless right! Though never say never( not a beiber fan though) 🙀

Data Science - Courses

Risk Analytics

Welcome to Banking & Finance's Private Community

Who all working in credit underwriting space

Credit Analyst

Has anyone used Jupiter app, and got some benefit out of it? Their app screenshots on Play store are not at all clear, why should I join it?

Jupiter app

Product Owner

Welcome to Indian Startups's Private Community

How are startups competing in the same space on almost similar products and raising a lot lot of money on almost similar products 😮.

How to be better than competition if it's almost similar product that everyone is offering especially in FINTECH with plug and play APIs?

Opinions?

Need Serious Opinions

Welcome to Office Gossip's Private Community

Soonicorn founder

Shoot your questions!

Fintechfounfer AMA

Folks, we're a profitable B2B Saas startup. We've huge organic footfall on our product (100,000+ MSME visitors a month). We're looking to tie up with banks for SME loan lead generation. Any help? Also, How do we charge the banks

SME loan lead generation

UX/UI Designer

Any view on Agritech Starups ?

Sharing frustrations with starting up a business. In my career I have raised over $30m over multiple rounds.

Co-founders in non-business roles get pushed out by politics. Sharing control with co-founders is messy, inconvenient, time consuming. Money lets you hire people who have to answer to you.

If you are not the main ‘Business person’ in a startup high chance you are disposable, no matter what skills you have. And it sucks to spend so much effort only to get bullied out and left with nothing.

Some investors will follow you on social media, if your business is not growing QoQ don’t post anything on social media that implies you are not working every weekend. They will ask why you are not working.

 If you are CEO, be ready for every random person to tell you how to run your business. Not in a ‘friendly advice’ kind of way, if you are the CEO you have a target on your back.

 Investors don’t know about your industry or have very dated knowledge. Some will just say random tips like ‘try web3’ or ‘try SaaS’ and blame you for following their advice when it fails.

 Your progress is measured against fraud companies who fake numbers, or the 1 in thousands who succeed. Get made to feel like you are failing to live up to super high expectations constantly.

 Employees work half your hours, off sick usuall one day a week, deliver next to nothing and expect 20% hikes every year because that’s what their friends make, or they read some dumb startup hires freshers at 20LPA. 

Smooth talking people with the same idea as you, no traction, never shipped a product in life, will raise a huge seed round due to 'pedigree' and spend it all on self promotion. You will always be compared to these clowns who find ways to lecture others while building nothing of value.

Dark side of starting up.

So much truth in everything you’ve written 
 “your progress is measured against fraud companies who fake numbers”  
  
 This has become just more prevalent over time. Confidently advice learnings from startups that are faking GMV or PMF metrics :)

Investment Associate

Investor

Usually many apps can access our fin data with just our pancard ryt. Ind money didnt even ask for my pancard. Just from my number they gave everything. My pancard details, upi ids. Credit cards, bank account etc. 
how do they work. 
If i create an app, apply for some licence will i be able to get all this information?
Will they check security of the database etc before giving licence..

How does fintech apps work?

Software Developer

Welcome to Product Managers's Private Community

Is this true or is it just me? 

I feel at this point there are no moats in consumer fintech.

The framework seems to be in a rut, everybody is doing the same thing.

Account aggregator, spend insights, personal loans, credit card, mutual funds, indian stocks, us stocks, etc etc.

If 5 different apps have literally the same features, with no meaningful edge over the other, what would you go for? How do they stand out?

Customer support? Onboarding? Branding? Picking a niche TG?

Wanna hear what other product folks think about this.

Where is fintech headed?

Hey everyone!

I'm currently working as a Product Manager at a well-known insurance firm. After being in this industry for a while, I've realized it's not the right fit for me and I'm looking to make a switch. However, with the tough market conditions, I haven't had much luck finding new opportunities. I'm really interested in transitioning to tech-related Product Management, Marketing, or Strategy roles, but most job postings require 2-4 years of industry-specific experience in tech.

I've also heard from colleagues that it can be difficult to switch industries when you have a background in insurance. This has left me feeling a bit demotivated and unsure about my prospects. 

I would love to hear any advice or suggestions on how I can better prepare myself for these roles and increase my chances of landing a new opportunity. 

A little bit about my background: I have a B.Tech in Computer Science and an MBA from IIM and 1 year of professional experience

Thanks in advance for any help you can provide!

Transition from Insurance PM to Tech PM

I am Shrey, CEO of Finsire - Fintech Infrastructure company from Chennai. Ask me anything!

Hey peeps, curious to know if you come across good resources to learn more on basics of tech/India fintech space?

Sharing a couple of resources that helped me

1. Auth and capture by Aditya Kulkarni/ his blog Read stories from Auth-n-Capture on Medium: https://medium.com/authncapture

2. Tech simplified by Deepak Singh 

Please do share in the comments if you know any

Recos for fintech domain/ tech for non-tech resources

We are thinking of starting a Fintech product, Can anyone help us understand how we can get an API stack to add Credit Products to our product basket, which Banks provide the stack, what all compliance do we need to follow

Issue Credit card to our customer

Cred is truly a topic of surprise for me. Yes, I understand it has created a community of top spenders/credit worthy people in India. I also understand that they can use the information on such people for creating value for themselves.

Being a cred user, I only use it to pay the bills. I really wonder if they have built any b2b business or alternative source of income beyond what's seen to the end user. What's the game plan for the cred? 

I also applaud the fact that cred hasn't laid off people having paid them better than most companies. I really wonder if the business is really that strong or the conviction is. Would you join cred if given a chance to work there?

Cred

I feel cred is doomed and just trying to increase its value. 
 And the end goal is to sell the cred to someone with higher value and make money.

Underwriting mechanisms !!!

Discover More

Fintech India on

by Jordon Gabriel

Stealth

Fintech - Lending players -Share your expertise

Personal Finance on

by Karilyn Lee

MasterCard

Does Cred/ Fold sell data to brands?

Data Scientists on

by Blair Taye

Unnamed

Data Science - Courses

Banking & Finance on

by Karilyn Nadeen

NBFC

Who all working in credit underwriting space

Personal Finance on

by Kendall Lee

Stealth

Jupiter app

Indian Startups on

by Dezi Everett

Fintech Startup

Need Serious Opinions

Office Gossip on

by Karilyn Lee

Stealth

Fintechfounfer AMA

Indian Startups on

by Matilda Everett

Amazon

SME loan lead generation

Indian Startups on

by Aaron Lee

Stealth

Any view on Agritech Starups ?

Indian Startups on

by Coy Carmden

Stealth

Dark side of starting up.

Fintech India on

by Karilyn Carmden

Wipro

How does fintech apps work?

Product Managers on

by Anise Denver

Stealth

Where is fintech headed?

Product Managers on

by Coy Hyrum

Others

Transition from Insurance PM to Tech PM

AMA on

by Isaiah Lee

Stealth

I am Shrey, CEO of Finsire - Fintech Infrastructure company from Chennai. Ask me anything!

Product Managers on

by Anise Vernon

Others

Recos for fintech domain/ tech for non-tech resources

Misc on

by Karilyn Lee

Seed Stage Startup

Issue Credit card to our customer

Indian Startups on

by Jordon Lee

Stealth

Cred