Business intelligence platform Probe42 has launched two new capabilities aimed at helping banks and financial institutions assess borrowers, examine secured liabilities and research business entities more efficiently.
The first offering, P&P CERSAI, brings security interest registration information for proprietorship and partnership firms onto a single platform. The second, Mercury, is an artificial intelligence-powered research assistant that allows users to retrieve business information through a conversational interface.
The launches are focused on a segment that has traditionally been difficult for lenders to examine because information on proprietorships and partnerships is often fragmented or not easily accessible.
P&P CERSAI brings secured liability records together
P&P CERSAI provides access to more than 9 crore security interest records covering over 1.4 crore proprietorship and partnership firms.
Banks and financial institutions can search for borrowers using their Permanent Account Number and review information connected to their secured liabilities. The platform brings together details such as pledged assets, registered charges, borrower relationships and the lending institutions associated with those registrations.
By placing this information within a single interface, Probe42 is seeking to make the borrower assessment process more manageable for lenders working with proprietorships and partnerships.
The capability is designed to support credit underwriting, risk assessment and regulatory compliance preparation. It also gives lenders a wider view of existing security interests before they make financing decisions.
Prahlad Krishnamurthi, chief executive officer of Probe42, said proprietorships and partnerships significantly outnumber registered companies but have historically lacked the same level of structured and accessible information.
He said the addition of CERSAI information extends Probe42’s business discovery and assessment capabilities to the proprietorship and partnership segment. The company also expects the data to support use cases that take place before lending, including business discovery and pre-sales research.
Probe42 plans to introduce additional capabilities for the segment as part of its longer-term effort to build a more comprehensive intelligence platform for proprietorship and partnership businesses.
Mercury introduces conversational business research
Mercury allows users to research companies and other business entities by asking questions through a conversational interface.
Instead of moving between several reports or datasets, users can enter a direct query and receive a contextual response generated from the business information available on Probe42’s platform.
The research assistant is intended to shorten the process of locating and interpreting information related to a company or business entity. It can be used to examine information already available across Probe42’s intelligence datasets without requiring users to search each section separately.
Probe42 said Mercury has already seen organic adoption. The company is now expanding the assistant across its existing products and extending its coverage to proprietorships and partnerships.
Focus on a unified business intelligence platform
The launch of P&P CERSAI and the expansion of Mercury form part of Probe42’s effort to create a single business intelligence layer covering different types of entities in India.
For financial institutions, the company is positioning the two capabilities as tools for gaining a more complete view of borrowers, improving risk reviews and making lending decisions using consolidated business information.
Probe42 says its platform is used by more than 1,000 customers, including several leading Indian banks. It is also used by over 105,000 bankers and 75,000 corporate users for credit assessment, know-your-customer processes, onboarding, counterparty due diligence, compliance, portfolio monitoring and market intelligence.
The platform currently covers more than 20 lakh companies and limited liability partnerships, along with 1.4 crore proprietorship and partnership firms. According to the company, its intelligence is compiled from more than 744 data sources, including the Ministry of Corporate Affairs, Registrar of Companies, Goods and Services Tax records, courts and CERSAI.
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