Kochi, Sep 17 (PTI) 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.

Also Read | Lee Min-ho, Park Shin-Hye, Song Joong-ki – 5 Times Kdrama Actors Went Viral For Speaking In Foreign Languages.

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.

Also Read | Equity Investors Get Poorer by Over Rs 6.18 Lakh Crore As Sensex Plunges 1,093 Points.

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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)