UK fintech Agam helps banks facilitate real-time AI-powered digital lending

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Agam Platform Uses Machine Learning to Know Customers as They Progress Through Integrated Financial Literacy Development Training Program
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Founded and led by Shabnam Nida Wazed, the financial technology firm aims to revolutionize traditional lending systems in emerging markets and take financial inclusion to the next level

Agam, which translates to ‘advance’ in Bengali, is a UK-based digital platform that offers a range of banking products, such as payday advances or payday loans, buy-now solutions, loans to SMEs and agriculture, and SMART. Savings.

This is made possible by their unique, exclusive and intelligent Individual Independence Index (III â„¢) system.

III â„¢ is a one-of-a-kind AI-based system that combines alternative credit scoring. that is, focusing on the customer, not their assets, customer profiling and the individual ability to achieve a holistic picture of each customer.

It goes beyond traditional records based on a customer’s transactions and adopts various data points to assess consumer affordability, which means the intelligent system learns the behavior of the customer.

Such technology allows them to securely generate real-time loan decisions.

“Agam bridges the gap between customers and financial institutions. Our intelligent III ™ enables real-time end-to-end digital lending and alternative credit scoring, ”said Shabnam Nida Wazed, Founder and CEO of Agam.

Shabnam Nida Wazed, founder and CEO of Agam Photo: PERMITTED

“This is an important innovation, especially in the post-pandemic world where traditional lending models are delaying access for clients. With AGAM, we believe we can reach the next billion and facilitate their banking operations, ”she added.

The Agam platform uses machine learning to get to know customers as they progress through the integrated training program focused on financial literacy development.

It is a dynamic, agile, and fun assessment system that helps clients become more educated and on top of finances with higher III â„¢ scores, which in turn qualifies them for loans. more important.

Rohit Sankhe, Chief Technology Officer of Agam, said: “Our system works as plug-and-play and optimizes the pace of transactions, and improves the speed and efficiency of financial institutions, all thanks to III ™ . Innovation is the engine of our growth; we have already made India our second market and hope to enter other emerging markets very soon.

Agam has successfully received several approvals from the UK Department for International Trade, Invest UK and Innovate Britain as a highly viable, innovative and unique platform.

It is part of the prestigious Global Entrepreneur Program of the British government.

Agam is working in Bangladesh with Prime Bank and Swiss Contact to facilitate its very first digital loan in Bangladesh.

Applications are currently available for a selected customer segment of RMG workers, and Agam plans to expand into other areas very soon.

The mobile app allows clients to register through their bank account and apply for loans of up to 30% of their salary.

It allows customers to access the bank to apply for a loan and get a decision in just five minutes. They have a minimum eligibility score and this will increase with subsequent loan applications and consistent interactions with the application.

This article is published in partnership with Agam


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