Fintech start-up Intain targets significant share in Indian blockchain marketplace

The research-centric company founded by veterans in financial services and technology, is backed by Hamon Investment Group and Blockseed Ventures.

Having set-up its global AI Lab in Chennai, Intain plans to introduce eMulya in the domestic marketplace. Siddhartha S, Founder and CEO, Intain said, “eMulya is an Intelligent Blockchain that facilitates efficient, secure and trustworthy Asset Securitisation transactions. We tested out this platform successfully for a portfolio of two-wheeler loans in India before formally launching it in the US at the SFIG meet last month.”

“Intelligent Blockchain ensures that lower cost and lower risk is no more a trade-off for financial institutions. We have demonstrated that with our Asset Securitisation platform. We understand both the benefits and risk of rapid technology change. So, now other blockchain platforms are working with us in areas like Securities Token Exchange to take their solutions to the market,” Siddhartha further explained.

The company has an AI Lab in Pune with a total strength of 30. The AI Lab in Chennai will take this to 40 with a further expansion planned later this year when degree holders with a Master’s in Data Science, recruited from campuses will come onboard. Intain is looking at acquiring issuers and investors on to eMulya in the US which is the largest market for asset securitisation.

The company will also address the demand for its AI-based automation product, IN-D, an Op-Bot (Operations Bot) that uses AI for digitisation and decisioning that comes pre-trained and ready to deploy for select business process. IN-D can be used by other product companies, BPOs or system integrators. According to the company official, Intain currently works with an ERP product company, a loan origination product and a global technology firm on various IN-D projects. In addition to India, Intain is focussing on South East Asia market for IN-D and will cater to this market through its Singapore office.

According to experts, malpractices in underwriting, securitisation and trading all contributed to the financial crisis of 2008. Asset Securitisation traditionally has suffered from information asymmetry among the stakeholders.

The team believes the blockchain platform is aimed at addressing some of the triggers of the 2008 financial crisis. Asset Securitisation is seen as a relevant use case for a blockchain.