AI-based solution Perfios debuts, accelerating credit approval processes

In a groundbreaking move, Perfios.ai has launched CAM AI, an AI-powered credit underwriting platform designed specifically for banks and Non-Bank Financial Companies (NBFCs). This innovative solution transforms the generation of Credit Assessment Memos into a real-time, audit-ready process, replacing weeks of manual effort with intelligent automation.

CAM AI autonomously extracts, interprets, and reconciles data from a wide range of financial documents in real time. Every insight generated by CAM AI is backed by source traceability, enabling analysts to see exactly which document led to which conclusion. This transparency ensures a high level of accuracy and accountability in the credit assessment process.

The launch of the GenAI-powered intelligence stack by Perfios underscores the company's commitment to digital transformation and customer-centric innovation. CAM AI is built upon Perfios' trusted AI and machine learning models, enhanced with proprietary generative AI (GenAI) and agentic tooling.

CAM AI is designed for regulated financial environments, leveraging large language models for advanced reasoning while layering them with specialised engines for financial calculations, document verification, and compliance. This design ensures that CAM AI meets the stringent requirements of the financial sector, providing a secure and reliable platform for credit assessment.

Sumit Nigam, Chief Technology Officer at Perfios, stated that CAM AI was specifically architected for the demands of regulated financial environments. He emphasised that CAM AI allows lenders to process as much as twice the volume of loan applications using existing resources, reducing underwriting turnaround time by up to 85%. Traditional processes that took several days can now be completed in just a few hours.

At the moment, there are no publicly available search results indicating which banks or non-bank financial service providers have implemented CAM AI. However, with its potential to increase operational productivity in the BFSI sector by up to three times, it is likely that many financial institutions will adopt this innovative technology in the near future.

In conclusion, the introduction of CAM AI by Perfios.ai represents a significant step forward in the digital transformation of the financial sector. By automating the credit assessment process, CAM AI promises to make credit underwriting faster, more accurate, and more efficient, ultimately benefiting both financial institutions and their customers.