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Business

LenDenClub hosts AI Hackathon powered by AWS to Develop Alternative Scoring Models and Close Credit Gap for the Underserved

PRNW Agency
Last updated: 12/06/2025 5:53 PM
PRNW Agency
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LenDenClub hosts AI Hackathon powered by AWS to Develop Alternative Scoring Models and Close Credit Gap for the Underserved
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LenDenClub hosts AI Hackathon powered by AWS to Develop Alternative Scoring Models and Close Credit Gap for the Underserved

48-hour offline sprint draws 1,800+ entries from India and other countries

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Top 150 tech talents from IIT, IIM and NIT to build AI models for underserved to unlock credit access

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MUMBAI, India, June 12, 2025 /PRNewswire/ — In a move to make credit more accessible and convenient for India’s underserved segment and call for innovation, LenDenClub, the country’s largest peer-to-peer (P2P) lending platform, is set to host its flagship 48-hour offline AI Hackathon powered by AWS, Bureau, Sign 3, and Mobilewalla. The hackathon, Matrix Protocol aims to develop alternative credit scoring models, is scheduled from June 13-15, 2025 at LDC’s corporate headquarters in Malad, Mumbai. It is focused on developing innovative, real-world solutions that can power new-age credit assessment frameworks for the country’s credit-invisible population, a step that could significantly reshape the future of financial inclusion.

Aligned with the Government’s goal to improve credit assessment and facilitate access to formal credit, this initiative supports the broader mission of bringing more individuals into the formal lending ecosystem and accelerating economic growth in rural communities. With millions of individuals in India still far from the formal credit segment, this effort would be vital to bridging the gap and building a more inclusive financial future.

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The event has generated immense enthusiasm, drawing over 1,800 participants from across India and beyond, including countries such as Australia, Brazil, Germany, Nepal, Peru, and Saudi Arabia. After a rigorous screening process, the top 150 problem-solvers have been selected to participate in this exclusive innovation sprint.

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Entrants hail not just from tech and engineering, but also from life sciences, business, and arts backgrounds, fostering diverse, practical, and human-centric AI solutions. The talent pool includes students and professionals from prestigious institutes such as IITs, NITs, IIMs, ISI, and others, as well as industry professionals from top global organisations including Cognizant, Morgan Stanley, Tech Mahindra, IDFC FIRST Bank, Aditya Birla Capital, EXL, Vodafone Idea, Oracle, JPMorgan Chase, and MLExperts AI.

Participants will solve two critical problem statements that reflect India’s unique lending ecosystem:

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  1. AI-Powered Income Estimation Model:
    Building intelligent models to assess the income potential of individuals who lack formal credit histories—creating new pathways to responsible lending for the underserved.
  2. Emotionally Intelligent Voicebot:
    Designing a humanised voice assistant capable of detecting tone, emotion, and intent, enabling natural, empathetic borrower interactions far beyond scripted customer service bots.

Commenting on the hackathon, Dipesh Karki, Co-Founder & CTO, LenDenClub stated: “A large section of India’s population remains outside the formal credit system simply because traditional credit scoring models fail to capture their true earning potential or financial behaviour. We already have a few models to assess small and marginal borrowers. However, with this hackathon we are trying young minds to use creative ideas to think about new solutions for this complex problem.”

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With a total prize pool of ₹4 lakhs, and powered by key sponsors, the hackathon will act as a crucible for AI innovation that could impact millions who remain outside the scope of formal credit systems today.

About LenDenClub:

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LenDenClub is India’s leading peer-to-peer (P2P) lending platform, transforming the way people lend and borrow money. Established in 2015, we’ve grown rapidly to become a trusted name in the industry, connecting lenders seeking attractive interest rates with borrowers looking for quick, hassle-free loan solutions.

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With a user base of over 2.5 Crore and ₹16,000 Crore in loans disbursed, LenDenClub stands as a pioneer in the P2P lending space. We’re proud to be an RBI-registered NBFC-P2P, ensuring transparency, security, and compliance in every transaction. Our cutting-edge platform, combined with a 4.4+ rating, reflects our dedication to providing a seamless and trustworthy experience.

 

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View original content:https://www.prnewswire.com/in/news-releases/lendenclub-hosts-ai-hackathon-powered-by-aws-to-develop-alternative-scoring-models-and-close-credit-gap-for-the-underserved-302480173.html

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