Be it private banks like Axis Bank or ICICI Bank or foreign banks, they’re all using Jocata’s solutions. The numbers speak for themselves. This Hyderabad-headquartered fintech firm has empowered financial institutions to achieve a 60% reduction in loan processing costs, over 80% faster credit decisioning, a 50% boost in sales productivity, and an average 3x growth in cumulative loan portfolios, according to the company. Founded in 2010 by Managing Director and Chief Executive Officer Prashant Muddu, Jocata is a business-to-business (B2B) digital transformation partner for the BFSI (banking, financial services, and insurance) industry, offering solutions to more than 50 large financial institutions. Thanks to these collaborations, it has delivered good performance in recent times. Jocata has reported an annual turnover of over `126 crore in FY24. It processes more than 50 million loan applications and facilitates `50,000 crore worth of disbursements annually. This is the reason it was picked by the jury as the Best Fintech in Value Added Services for this year’s BT-KPMG Survey of India’s Best Banks and NBFCs. Jocata says its platform facilitates end-to-end digital transformation, integrating every aspect of the customer lifecycle from onboarding and credit assessment to disbursal, collections, and regulatory compliance. Some of Jocata’s Indian clients include Bank of Baroda, Punjab National Bank, American Express, DBS, and Airtel Payments Bank. In terms of business verticals, Jocata has a digital lending transformation platform, which is an integrated digital lending stack covering customer onboarding, loan origination, loan management, and collections. It offers over 100 products and variants across retail, MSME, agriculture, corporate, and credit card segments. It also has a financial crime compliance service that uses advanced data analytics for KYC management, negative screening, regulatory reporting, fraud detection, and risk categorisation. The company says it has 98% accuracy in terms of predicting suspicious patterns. Third is AI-powered credit intelligence, which uses AI for swift and accurate processing of vast volumes of data, enabling scale and efficiency. Its scoring engine helps institutions with deep behavioural and predictive analytics for better and faster sourcing, underwriting, and monitoring. The original founders of Jocata, have exited via a sale to India Ideas.comBillDesk. Now, Muddu owns less than 1%. “Jocata raised a seed round of $1 million when it started and was largely bootstrapped and funded through customer revenues until 2018, when it was acquired by BillDesk. Jocata was acquired by a strategic investor and, as such, has not raised external funding,” adds Muddu. The company has its presence across six countries—India, the UAE, Qatar, Hong Kong, Myanmar, and the Maldives. Some of their international clients include Standard Chartered, Wio Bank, Bank of Maldives, Yoma Bank, and Wave Money. Muddu says, “We are engaged in the transformative projects that include digital retail and SME lending, credit marketplaces, and embedded finance to financial crime compliance.” In an industry like the BFSI industry, which is in a constant state of flux, institutions need to keep investing to stay ahead of the race. But these entities also need to harness the vast amounts of data they generate to derive insights and help them drive growth. “This is where Jocata collaborates,” Muddu says. Looking ahead, Muddu says the company aims to double its revenue year-on-year, with a focus on international expansion and product launches, particularly in accelerating MSME lending. “India, as our home market, continues to be the powerhouse of opportunities, fuelled by its ongoing digital revolution.”  @Riddhima76
