AGAM International, a UK-based fintech company, is investing in Bangladesh to revolutionize traditional lending systems using AI and ML. The company has signed agreements with four Bangladeshi banks and is in talks with eight more. Agam’s goal is to shift from collateral-based to character-based lending. They have invested around Tk 70 million and plan to increase this in the future.
Agam assists financial institutions in making informed lending decisions using advanced predictive analytics. Their credit scoring engine uses a sophisticated algorithm to predict creditworthiness based on various factors. The data they analyze is collected by partner banks with customer consent.
Agam’s credit score system is customizable and can be adjusted to fit the specific needs of each financial institution. They have also pioneered an early salary access system, which allows employees to access their wages before payday.
Agam believes their technology can help CMSMEs in Bangladesh obtain loans quickly without collateral, promoting efficiency, market reach, and global competitiveness.
