NOIDA, India — 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.
