The ASEAN-India Business Council (AIBC) honored Perfios for its sustained efforts in fostering Digital Transformations for the BFSI segment and helping in achieving the objective of controlling medical inflation through Smart-Insurance-Claims decisioning.
KUALA LUMPUR, Malaysia, March 20, 2023 /PRNewswire/ — Perfios, the category-creator, AI powered financial software solutions leader, has been awarded the prestigious AIBC award at the 5th ASEAN-India Business Summit in Kuala Lumpur, Malaysia.
Based in Kuala Lumpur, Perfios is a global leader in AI-powered financial decisioning solutions and commands over 80% market share within its key market segments. With extensive ASEAN presence including Singapore, Malaysia, Vietnam, Philippines, and Indonesia, Perfios has demonstrated an ecosystem-wide integration with cross-sectoral players in the region, redefining the landscape of credit and insurance decisioning.
Trusted by 900+ BFSI institutions globally, Perfios operates across 18 different geographies. Displaying world-class capabilities, Perfios has pioneered ingenious AI/ML powered solutions by leveraging insights from 500+ million transactions processed every month, underpinned by global best practices for quality and data security standards.
“As a Malaysia-based company, we are pleased that our contribution to ASEAN financial services has been recognized and we hope to continue to help ASEAN’s Banks and Insurers leap-frog in the race to build AI-capabilities in their decision-making,” says Perfios’ Chief Executive Officer of International Business, Pramod Veturi. “At the same time, our insurance decisioning capability has been proven to help insurers sharply control claims costs and rein in the inflation within rising costs of medical care.”
Perfios’ Insights, a Fintech solution that employs intelligent OCR and Machine Learning, transformed the lending practices of Southeast Asian banks and NBFCs by analyzing bank statements digitally. The solution drastically reduced credit processing time for top banks in the region resulting in an improved user experience for their SME customers.
The InsurTech solution, Acclaim, helps Southeast Asian health insurers combat Fraud, Waste & Abuse (FWA) by verifying the authenticity of claims in real time – thus helping address one of ASEAN’s top concerns in controlling medical insurance inflation. Acclaim has reduced the claim processing time for its customers by over 80% while providing more than 5% savings in claims pay-outs for ASEAN’s top Life & Health insurers.
Perfios is committed to driving digital transformation and financial inclusion for the BFSI segment, and this award recognizes its sustained efforts towards achieving this goal.
Perfios Software Solutions is the largest SaaS-based B2B Fintech software company empowering 900+ FIs to make informed decisions in real-time. Perfios specializes in real-time financial decisioning, analytics, end-to-end onboarding automation, due diligence, monitoring, litigation automation, and more.
Perfios’ core data platform has been built to aggregate and analyze both structured and unstructured data and provide vertical solutions combining both consented and public data for the BFSI space catering to their stringent Scale Performance, Security, and other SLA requirements.
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