AND Global will provide its credit scoring solutions and intelligent document processing platform to significantly reduce processing times, optimize the workload, and accurately assess applicants’ income level

THAILAND: Leading fintech company AND Global’s subsidiary, AND Solutions, has today announced a new software provision agreement with AEON Thana Sinsap, a Thailand-based company that offers a range of financial services including credit cards, loans, and hire purchases. AEON Thana Sinsap will integrate AND Solutions’ AI-based intelligent document processing system, mindox, along with advanced credit scoring solutions to accurately estimate loan applicants’ income level while minimizing the turnaround time and reducing processing workload. AND Global is a leading fintech company that has created multiple businesses to promote financial inclusion across Southeast Asia.

The platforms powered by AND Solutions will be leveraged within AEON Thana Sinsap’s smaller ticket cash loan products. The collaboration is a part of the overall loan origination system (LOS) implementation project and the goal is for the solutions to be fully integrated into their existing core banking system in the near future. The new LOS will enable AEON Thana Sinsap to assess loan applicants faster and significantly reduce the manual work required for the loan origination steps. In addition, the system will empower AEON Thana Sinsap to launch new loan products quickly with new loan origination flows.

Commenting on the new agreement, Khos-Erdene Baatarkhuu, CEO of AND Global, said: “We are delighted to provide our software to AEON Thana Sinsap. By streamlining their loan applications, I believe our solutions have the potential to facilitate access to financial services and boost digital transformation in the sector. This agreement puts AND Global one step closer to meeting our ultimate goal of increasing financial inclusion across Southeast Asia.”

Toshiya Shimakata, Managing Director (MD) of AEON Thana Sinsap (Thailand), added:

“I expect that by introducing the credit scoring system developed by AND Solutions, we can reduce the credit evaluation time from the current one hour per person to just five minutes. We plan to first introduce this credit scoring system in some stores on a pilot basis, with the goal of full-scale implementation by May next year.”