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CS Professional · IFSCA - Regulations, Listing and Compliances · Overview of FinTech and Service Providers in IFSC

Kiran Analytics, a start-up, offers an AI engine that scores borrowers using non-traditional data such as utility payments and sells the score to lenders for a fee. It does not lend or hold customer money. In the usual classification of FinTech segments, this business is best described as:

It is a credit-analytics or enabling-technology service provider supporting lenders. The firm only sells AI-based scores for a fee and neither takes deposits, settles payments nor trades crypto-assets, so the banking, payments and exchange classifications do not fit.

  1. AA peer-to-peer deposit-taking bank
  2. BA payments settlement system operator
  3. CA RegTech or credit-analytics service provider supporting lendersCorrect
  4. DA crypto-asset exchange

Explanation

The firm supplies data-driven credit scoring to lenders and neither lends nor settles payments. That is a credit-analytics (enabling technology) service. Deposit-taking and payment settlement require holding or moving funds, which this firm does not do, and nothing involves crypto-assets.

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