Prudent AI’s eureka moment happened when Jay & Sri were warming down in their sports club after a badminton game . Having worked at EY for more than 10 years, they had deep insights into the world of finance and accounting. They realised they had unique insights that helped them see a great opportunity in the Finance and tech intersection.
First, trust and evidence are the biggest time and cost factors in finance processes. Second, finance was lagging behind in technology adoption and presented huge opportunities for improvement. Lastly, the best way to address this lag was via an impactful software product. Given they were based out of Chennai - the SaaS capital of India - starting up together was the natural next step.
During the journey, they realised if their SaaS business was to be successful it needed specific market attributes - high impact need , highly repeatable solution, and high transaction volume. After multiple trials working with different teams / sub-segments within the finance and accounting groups they landed on the perfect opportunity.
It all fell in place when leading Non-QM lender, Lendsure Mortgage Corporation , came looking for analysis of bank statements for their non-QM lending business. They realised they had the perfect solution in the mortgage tech space. And, they haven’t looked back since then.
Now Prudent AI has lifted credit decisioning for lenders to the next level and expanding rapidly into multiple segments and use-cases. Hello, future!