Reall, based in the UK, has made a strategic investment in Syntellect, a worldwide affordable housing fintech firm.
The money will be used to advance and market Syntellect’s main product RightProfileTM for low-cost housing options in South America, Africa, and India.
The underserved, financially excluded low-income casual client sector receives creditworthiness insights from the tool RightProfileTM.
“We built RightProfileTM to change the economic dis-balance selective lending has caused in the world. With the investment received from Reall, we intend to grow our platform, take our capabilities to lenders and promoters across India, Africa and South America. We will bank the unbanked across the world and make affordable housing a reality while helping lenders expand their customer base without having to take unnecessary risks,” said Sumedha Salunkhe Naik, founder and CEO, Syntellect.
The product, RightProfileTM is a unique customer profiler specifically catered to the Informal sector customer It has an exhaustive back-end technology platform for the informal Micro Entrepreneur and the affordable housing customer segment making it the first one of its kind in the industry.
Syntellect’s RightProfileTM tool is a vital piece of the jigsaw for opening up access to affordable financing for sustainable homes. Reall is excited to be partnering with Syntellect and working closely with them to change the housing market landscape for millions of low-income and unsalaried families across India and beyond,” said Laura Howlett, head of operations, Asia, Reall.
RightProfileTM uses AI, ML, statistics, specialist programming, and sophisticated analytics to unearth useful information and give lenders decision-making intelligence based on a variety of factors and tailored to the top 20 transactions globally. According to a statement from the company, RightProfileTM has created customer profiles for over 14,000 clients since its launch in 2017, as reported by Entrepreneur.com.
The Company, Syntellect was founded with the objective of giving every deserving customer financial access and every discerning loan giver the ability to underwrite and take an informed decision in loan disbursement.