Home / Business and Economy / Perfios Launches AI for Instant MSME KYC
Perfios Launches AI for Instant MSME KYC
23 Feb
Summary
- Perfios.ai launched KScan AI for fast KYC and due diligence.
- The platform offers data on over 30 million Indian businesses.
- Pilot tests showed 10x more leads and 5x lower acquisition costs.
Perfios.ai introduced KScan AI, an artificial intelligence platform facilitating expedited KYC, KYB, and detailed entity due diligence. This innovation serves as an intelligence infrastructure layer specifically designed for discovering and assessing risks associated with India's Micro, Small, and Medium Enterprises (MSMEs).
The KScan AI platform provides the Banking, Financial Services, and Insurance (BFSI) sector with deep, AI-driven understanding for critical decisions. It offers access to data on over 30 million Indian businesses, converting intricate information into actionable insights.
Addressing the challenges of fragmented data in the MSME sector, KScan AI aggregates information from over 900 official sources. This offers a comprehensive view to aid risk assessment and credit evaluation.
Early pilot tests by Perfios.ai indicate substantial operational enhancements. Participating banks and NBFCs reported a tenfold increase in MSME lending leads, coupled with a fivefold decrease in customer acquisition costs.
Furthermore, KScan AI facilitated approximately 1.8 lakh due diligences within one year. It also conducted 2 lakh litigation checks and 6 million sanction screenings, significantly improving anti-money laundering efforts.
