The startup operates an online digital bank that provides unbanked individuals with access to financial services, enabling them to manage payments, invest in education, and build businesses. By enhancing existing payment models, the company promotes financial stability and independence, allowing users to effectively navigate financial risks and shocks.
Funding
$13M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional credit risk assessment in Brazil relies on limited data sources and manual processes, leading to high fraud rates and delinquency, especially for individuals with limited credit history. Existing solutions often lack the sophistication to accurately assess risk and optimize customer interactions, resulting in lost revenue and inefficient customer management.
Solution
alt.bank provides an AI-powered platform for credit underwriting, customer acquisition, and portfolio management, enabling businesses to make more informed credit decisions. The platform leverages AI and machine learning algorithms, incorporating data from 8+ sources, to deliver superior risk assessment and customer interaction capabilities. alt.bank's technology offers features such as AI-driven onboarding and KYC, fraud detection, credit scoring, and customer lifecycle management. By optimizing each stage of the credit process, alt.bank helps businesses reduce fraud, minimize delinquency, and maximize profitability.
Target Audience
alt.bank primarily targets businesses in Brazil that offer credit products, including banks, fintech companies, and retailers, seeking to improve their credit risk assessment and customer management processes.
Features
- AI-driven underwriting engine with AUC score of 0.79+
- Fraud detection system with a net fraud rate of less than 0.01%
- Customer onboarding in under 3 minutes without photo identification
- AI-powered customer management for credit line optimization
- Marketing engine that optimizes by credit quality in real time
- Extensible credit card billing platform with multi-channel invoicing
- AI-driven collections platform for optimized customer contact