Kochi based FinTech startup, TRaiCE wins NASSCOM-NIPP GCC award

The company won the prestigious award by showcasing how the platform uses predictive AI to help lenders improve operational efficiencies for faster and safer financing.The NIPP GCC Fintech Challenge is a competition where startups can pitch solutions that address the real world pain points of organisations in the banking, insurance, and financial services sector.

Kochi-based Startup TRaiCEInc., a no-code AI-augmented Early Warning and Business Risk Monitoring System, was named the winner of the NASSCOM-partnered NIPP GCC Fintech Challenge in the 'Predictive Analytics for Customer Retention' category. The company won the prestigious award by showcasing how the platform uses predictive AI to help lenders improve operational efficiencies for faster and safer financing.

The NIPP GCC Fintech Challenge is a competition where startups can pitch solutions that address the real world pain points of organisations in the banking, insurance, and financial services sector. The challenge is backed by NASSCOM, a premier trade body for the Indian tech industry.

NPAs (Non-Performing Assets) are a perennial problem for banks as they eat into a lender's profit margins, hindering them from taking strategic risks and enhancing their portfolios, the company said. ''TRaiCE uses Machine-Learning-led predictive analytics to help lenders identify problem accounts early. This gives them enough time to take evasive actions, reduce write-downs on impaired assets, and improve portfolio health,'' the company said in a release.

Geetha Ramaswamy, the CTO of TRaiCE Inc said the award was the culmination of all the hard work they have put into developing an advanced solution that allows financiers at small to large organisations to easily manage, monitor, and de-risk their portfolios, and mitigate losses.

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