BCT Digital launches ‘Real-Time Early Warning Systems’ for NPAs

BCT Digital

BCT Digital, a global FinTech company specializing in BFSI, Predictive Analytics, and Risk Management, has launched their specialised ‘Real-Time Early Warning Systems for credit monitoring’ – the first-ever real-time monitoring solution for handling Non-Performing Assets (NPA).

BCT Digital has been assisting banks and financial institutions via their product “rt360 – Early Warning System”. The product is currently operational in the top public and private sector banks in India and across the globe. “rt360- Real-Time Early Warning System for Credit Monitoring” is an AI-based innovative upgrade to their current EWS product suite.

BCT Digital“Real-Time EWS has the potential to detect and prevent suspicious or fraudulent transactions, effectively paving way for a transition from detective to preventive credit risk monitoring’’.

There has been an alarming increase in the number of bad loans, frauds, and non-performing assets in banks in recent times which have resulted in a critical imbroglio in the Indian banking system.

The lack of due diligence before and after loan disbursal is the single largest contributing factor to these frauds apart from defaults, economic slowdown, and lax lending practices. With the help of disruptive technologies such as artificial intelligence (AI), machine learning (ML) and streaming, data- lenders will be able to “detect suspicious transactions in loan accounts on a real-time/near real-time basis, which will positively contribute to the overall health of the credit portfolio.

“When we launched the first EWS product way back in 2016, our goal was to make in India – i.e. make it local for the global marketplace. Our EWS implementations have yielded the maximum ROI – for instance even if banks can reduce 1% of the NPA for a bank of asset size of 50 B with an average NPA of 10%, will bring back at least 500 M per bank/per year. Now, with Real-time Early Warning System for credit monitoring banks have the opportunity to prevent bad loans at the disbursement stage itself. We aim to empower every financial institution to be risk-free and provide them with a technologically robust and cutting-edge risk management ecosystem to rely upon. With the current NPA situation in the country and the way the banking industry is changing due to COVID-19, our focus has been on disruptive technologies like – AI, ML, predictive analytics and blockchain, to catapult India into the next generation of banking. Through the real-time EWS, we want to empower banks by helping them make the right decision, stay ahead of the competition, and prevent possible NPAs and banking frauds with the help of real-time data.” said Dr. Jaya Vaidhyanathan, CEO at BCT Digital.

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