PRNewswire
Noida (Uttar Pradesh) [India], April 15: ACT21 Software, a pioneering force in financial technology, has received the prestigious Best Risk Management Implementation Award for its innovative collaboration with one of the top three lending institutions in India. This honor was presented by IBS Intelligence at the IBSi Global FinTech Innovation Awards 2024, reinforcing ACT21 Software’s status as a leader in risk management and financial innovation. This recognition showcases ACT21’s transformative initiative in streamlining loan processing, slashing turnaround times by 50%, and delivering consistent risk assessments with enhanced scalability. ACT21 Software has reduced the underwriting TAT from 5 days to just 2, effectively optimizing loan origination and bolstering the risk management framework.
With the capacity to handle over 100,000 loan applications monthly, this project underscores NBFC’s dedication to operational excellence and innovation in the financial services sector. This project underscores NBFC’s goal of achieving operational excellence and innovation within the financial services sector.
The award was received by ACT21 Software’s Founder & CEO, Pankaj Gupta, during a ceremony that celebrated excellence and innovation in the financial technology space.
Expressing his gratitude, Pankaj Gupta said:
“We are incredibly honored to receive the Best Risk Management Implementation Award at the IBSi Global FinTech Innovation Awards 2024, powered by IBS Intelligence. This recognition reflects the exceptional implementation delivered by ACT21 while leveraging the robust capabilities of partner enabled Business Rule Engine. This achievement highlights our commitment to delivering transformative solutions in the financial technology landscape.”
“ACT21’s implementation of the Centralized Decision Management System (CDMS) at the NBFC redefines credit risk management by centralizing and automating decision-making processes across eight product lines. This initiative has streamlined loan processing, cutting turnaround times by 50%, while ensuring consistent risk assessments and scalability. By managing over 100,000 loan applications monthly, the project underscores NBFC’s dedication to operational excellence and innovation in financial services,” said Nikhil Gokhale, Director – Research & Digital Properties at IBS Intelligence. He applauded ACT21 for their achievement in the category ‘Best Risk Management Implementation: Best Project Implementation’.
This recognition underscores ACT21 Software’s commitment to delivering innovative, risk-focused solutions tailored to the unique needs of the BFSI sector. By empowering NBFC with secure and cutting-edge technology, ACT21 Software continues to set new benchmarks in the realm of financial technology and risk management.
About IBS Intelligence:
Founded in 1991 and based in the UK, IBS Intelligence (IBSi) is the world’s only dedicated firm specializing in both traditional and modern financial technology research, advisory, and media services. With a global reach, IBSi offers a comprehensive range of intelligence solutions.
For over three decades, IBSi’s expert teams have provided independent, detailed, and actionable insights, focusing on financial technology, as well as the global banking, consulting, technology, and institutional investor sectors.
About ACT21 Software:
ACT21 Software, headquartered in Noida, NCR, India, is a leading SaaS company reshaping BFSI tech with low-code, and AI-driven solutions. We empower financial institutions worldwide with comprehensive Business Process Automation to enhance efficiency, streamline operations, and drive data-driven insights, all while minimizing human intervention.
Our suite of innovative products includes HyPerform, which optimizes incentives and increases sales by 30% through features like DIY capabilities and real-time analytics; Underwriter360, which enhances traceability and borrower experiences with smart automation, achieving a 5x conversion rate increase; and ImpaktApps, which facilitates rapid application development by converting ideas into impactful applications while cutting development costs by 50%. With a strong focus on improving productivity, reducing costs, and driving data-driven insights, ACT21 Software is dedicated to helping financial institutions thrive in an evolving technological landscape.
Our commitment to excellence and innovation positions us as the partner of choice for organizations seeking to optimize their processes and embrace the future of finance technology.
For more information, visit www.act21.io
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