Singapore, 13 October 2022 – Singapore-headquartered finbots.ai, an Accel-backed Business-to-Business (B2B) FinTech offering an Artificial Intelligence (AI) credit modelling platform for digital lenders and banks, today announced signing East Ventures-backed PropTech firm Tanaku as their first client in Indonesia. finbots.ai will empower Tanaku to capture a larger market audience and accelerate growth plans with its AI-powered risk modelling solution.

Using finbots.ai’s solution, Tanaku will be able to rapidly develop high quality customer risk assessment models to safely enable greater access to pre-mortgage financing, reduce losses and improve operational efficiency – leveraging fair, trustworthy and explainable AI. Additionally, the solution will help Tanaku expand reach to new segments and democratize access to home ownership.

Announcing this maiden win in Indonesia, Sanjay Uppal, Founder and CEO of finbots.ai said, “Indonesia is a key market for us with enormous potential, and we are delighted to embark on our journey here with a like-minded firm such as Tanaku. The partnership demonstrates our solution’s ability to empower all types of lenders – traditional banks, digital banks, Buy Now Pay Later (BNPL) players and FinTechs across markets, and is a pivotal step for finbots.ai in transforming risk management and accelerating risk management financial inclusion.”

According to Statista^[1], homeownership in Indonesia has been declining by two per cent each year since the year 2000. Millennials have been shown to be the most impacted segment, with up to 70 per cent of a total of 70 million young Indonesians unable to afford their own home.

Launched in 2022, East-Ventures backed Tanaku is a PropTech firm that has launched a next generation platform to radically transform the home buying experience for Indonesians. By paying as little as two per cent down payment, Tanaku is a pre-mortgage solution that allows aspiring Indonesian homeowners to move into their home seamlessly, build remaining down payment, and improve their mortgage readiness with flexible transparent monthly instalments, without all the complexities involved.

“We founded Tanaku with the aim to make homeownership accessible and radically transform the home buying experience for Indonesians. finbots.ai’s risk modelling solution will enable us to reach out to a wider audience, and speed up our customer origination process and level up our customers’ home buying experience. We are very excited about the innovation and growth potential of our partnership with finbots.ai,” commented Andries De Vos, Chief Product Officer of Tanaku.

finbots.ai will be at booth 3K17 at the upcoming Singapore FinTech Festival (SFF) 2022 taking place from 2 – 4 November 2022.