ACTICO and DMI Finance join forces for digitalization and continued rapid expansion of DMI’s Digital Consumer Business.
Since early April 2018, DMI Finance and ACTICO have been collaborating in utilizing and implementing ACTICO’s cloud-based Decision Management System for DMI Finance’s Digital Customer Business. The partnership sees both companies collaborating in various business lines, making ACTICO the preferred strategic implementation partner in decision automation for DMI.
More than 80% business automation
The ultimate objective of this partnership is to ensure business automation of DMI Finance’s processes by more than 80% in next 2 years and thereafter hand over the reins of business process automation, project implementation, change management and application maintenance related activities to DMI Finance from ACTICO. DMI continues to make progress on automation of processes in underwriting, collections, operations and accounts. 97% of its credit decisioning happens in less than 60 seconds and almost 100% of its disbursals happen within 12 hours.
“We strongly believe that embracing this new DMS will further our foray into automating the underwriting model which will help us to take quantum leap, for our retail customers” said Arindam Das, Head of Digital Consumer and SME lending at DMI Finance.
Process a million loan transactions per day
“Our goal is to process a million loan transactions a day with minimal human contact. The only way we have any chance of achieving this goal is to integrate intelligent prediction systems into all nodes of our decision trees and heavily use decision automation tools such as ACTICO”, said Shiv Chatterjee, Joint Managing Director and co-founder of DMI Finance.
Decision Automation as a necessity
“Decision automation is no longer a process enhancement but is now a business necessity for us. We are committed to pushing this effort across all our business lines”, said Yuvraja Singh, Joint Managing Director and co-founder of DMI Finance.
“We are pleased to be partnering with DMI in their digital journey. Decision automation is at core of any digital product offering and ACTICO platform provides DMI with a scalable and future proof technology for its planned growth", says Ajit Shah, Managing Director of ACTICO-APAC.
About DMI Finance
DMI Finance was founded in 2008 by former Citigroup Inc. executives Shivashish Chatterjee and Yuvraj Singh with one goal: to build a platform at the cutting edge of the Indian credit markets. The product offerings include consumer loans, corporate loans, housing loans and asset management and are tailored to meet the needs of individuals and companies.