Indian telco Bharti Airtel has acquired a stake in fintech loan startup Seynse Technologies.
Seynse' Loan Singh lending platform uses a proprietary credit engine and machine learning capabilities to offer easy loans for credit-worthy yet underserved borrowers.
Harmeen Mehta, global CIO and director - engineering, Bharti Airtel says: “Over the years, Airtel has developed strong in-house data science capabilities that enable us to serve our customers better. Seynse’s advanced credit scoring algorithms based on multiple sources and digital analytics will add immense value to our innovation factory. We look forward to working with the passionate team of professionals at Seynse to bring targeted products and solutions to our 270 million plus customers.”
Bharti Airtel's interest in the provision of financial services is not new. Last year it struck a deal with Uber to let Indians pay for their trips through the wireless carrier's mobile wallet, and in January announced the national launch of the country's first mobile payments bank.