When “Almost Right” Isn’t Good Enough
Imagine you’re applying for a student loan, and the bank’s computer system makes a tiny error in calculating your credit score. That small mistake could mean the difference between getting approved or rejected, or paying 5% interest versus 15%. In the world of credit and loans, there’s no room for “close enough.”
That’s the problem Saumil Annegiri and his team at CredCore are solving. During a recent interview with Fintech TV at Money 2020 USA in Las Vegas, Nevada, Saumil explained how his company is using artificial intelligence to bring absolute precision to the massive $5 trillion global credit market. And when we say massive, we mean it—this market includes everything from your credit card to massive loans between corporations.
What Exactly Is CredCore?
CredCore sits at the intersection of two powerful forces: credit and technology. As co-CEO and co-founder, Saumil Annegiri leads a company that’s trying to solve some of the biggest problems in how the world handles lending and borrowing money.
The credit market is enormous and complex. It includes both public credit (like bonds that anyone can buy) and private credit (like specialized loans between companies). Within this huge system, there are countless opportunities for errors, hidden risks, and inefficiencies. That’s where CredCore comes in.
Three Main Goals:
- Automate tedious processes: Much of credit analysis still involves humans manually reviewing documents and data—work that’s time-consuming and prone to human error.
- Identify hidden risks: Sometimes dangerous financial problems are lurking in places people don’t think to look. AI can spot patterns and red flags that humans might miss.
- Manage investments more effectively: By processing huge amounts of data quickly and accurately, CredCore helps investors make smarter decisions about where to put their money.
The “Almost Right” Problem
One of the most memorable things Saumil said during the interview perfectly captures why CredCore’s work matters: “Almost right is almost always wrong in credit.”
Think about what that means. In many areas of life, being “close enough” works fine. If you estimate that your school is 2 miles away when it’s actually 2.1 miles, no big deal. But in credit and finance, small errors can have huge consequences.
Here’s Why Precision Matters:
For individuals: A tiny error in your credit report could wrongly label you as high-risk, making it harder to get approved for loans, apartments, or even some jobs.
For companies: If a business gets a loan based on slightly incorrect data, they might borrow more than they can actually afford to pay back, leading to bankruptcy.
For investors: Making investment decisions based on “almost accurate” information could mean losing millions of dollars.
For the financial system: When lots of slightly wrong decisions pile up across the entire economy, it can contribute to major problems like the 2008 financial crisis.
This is why CredCore doesn’t just build AI and let it run wild. They’ve built something more sophisticated.
The Secret Sauce: Human Experts + AI
Here’s where CredCore does something really smart. Many tech companies believe AI can solve everything on its own. CredCore takes a different approach.
They employ domain experts—people who have spent years working in debt and credit and really understand how it all works. These experts work alongside the AI, training it and checking its work. It’s like having an experienced teacher guide a very smart but inexperienced student.
This combination ensures that CredCore’s AI models produce precise outcomes, not just pretty close ones. And here’s the best part for their clients: CredCore takes on the responsibility of making sure everything is accurate. Their clients don’t have to spend time and resources validating the AI’s work or making adjustments—CredCore handles all of that.
This isn’t just a nice extra feature. In the world of finance, where mistakes can cost millions, this oversight is absolutely essential. It’s what separates CredCore from other AI companies that might prioritize speed over accuracy.
Following the Money: CredCore’s Series A Funding
Saumil also shared some exciting news during the interview: CredCore recently completed their Series A funding round. For those unfamiliar with startup terminology, this is typically the first major round of investment a young company receives after proving their initial concept works.
What makes CredCore’s funding particularly interesting is who invested and why.
A Unique Mix of Investors:
Traditional Venture Capitalists: Companies like Inspired Capital and Avataar Ventures brought financial capital—the money CredCore needs to grow and hire more people.
Strategic Partners from Credit: CredCore also attracted investors who are major players in the credit industry itself, including Fitch Ratings, one of the biggest credit rating agencies in the world.
This second group is especially important. These aren’t just investors writing checks—they’re industry experts who can provide mentorship and insider knowledge about where the credit market is heading. It’s like getting both funding for your business and a advisory council of experienced professionals who want you to succeed.
This diverse mix of investors positions CredCore perfectly for their next phase of growth. They have the money to scale up, plus the guidance to make smart strategic decisions.
Why AI in Credit Matters Right Now
You might be wondering: why is this happening now? Why is AI suddenly becoming so important in finance?
Several trends are converging to make this the perfect moment for companies like CredCore:
Data explosion: Financial institutions now have access to massive amounts of data about borrowers, markets, and economic trends. Humans can’t possibly analyze it all quickly enough, but AI can.
Demand for speed: In today’s fast-moving economy, investors and lenders need answers in hours, not weeks. AI can process information exponentially faster than human analysts.
Complexity increase: Financial products and markets have become incredibly complicated. The old methods of analysis often can’t keep up with modern complexity.
Risk of another crisis: After the 2008 financial crisis, everyone in finance became more aware of how hidden risks can bring down entire economies. Better tools for identifying these risks are desperately needed.
Ethical investing growth: More investors want to know that their money is going to responsible, sustainable businesses. AI can help analyze companies across many more criteria than just profit.
The Bigger Picture: Sustainable and Responsible Finance
CredCore’s work connects to something bigger than just making credit analysis more efficient. Their technology supports what’s called “sustainable development goals” (SDGs)—a global framework for addressing major world challenges.
Here’s how that works:
When investors have better tools to analyze companies accurately, they can more easily identify businesses that are both profitable andresponsible. This means money can flow toward companies that:
- Treat their workers fairly
- Minimize environmental damage
- Contribute positively to their communities
- Operate transparently and ethically
By making it easier to evaluate these factors, CredCore helps support the growing movement toward impact investing—putting money where it can do good while still generating returns.
This matters because the global financial system has enormous power to shape the world. When $5 trillion in credit is allocated more thoughtfully and accurately, it can drive meaningful positive change.
What This Means for Different Groups
For students and young professionals: As AI transforms finance, new career opportunities are emerging that combine technology skills with financial knowledge. Understanding both domains will be increasingly valuable.
For borrowers: Better credit analysis could mean fairer treatment—getting approved when you deserve it, and getting accurate interest rates based on real risk, not errors or bias.
For investors: More precise analysis means better investment decisions, whether you’re investing for retirement or managing billions for a large institution.
For entrepreneurs: If you’re thinking about starting a business that needs funding, AI-powered credit analysis could mean faster decisions and potentially better terms if your business plan is solid.
For society: A more accurate, efficient credit system means money flows to where it can do the most good, supporting economic growth and stability.
Lessons from CredCore’s Approach
CredCore’s story offers several valuable lessons for anyone interested in technology, business, or finance:
Precision matters more than speed: In some industries, being fast isn’t enough if you’re not accurate. Knowing when precision is non-negotiable is crucial.
Combine AI with human expertise: The most powerful solutions often come from blending technology with domain knowledge, not replacing one with the other.
Choose your investors wisely: Money is important, but smart money (investors who also bring expertise and connections) is even more valuable.
Solve real problems: CredCore isn’t chasing trends—they’re addressing actual pain points in a massive market. That’s a solid foundation for a business.
Build trust through oversight: In industries where stakes are high, taking responsibility for accuracy builds credibility and differentiates you from competitors.
Looking Ahead: The Future of Credit and AI
As blockchain technology, AI, and sustainable investing continue to evolve, companies like CredCore are at the forefront of a major transformation in finance. The credit market isn’t going away—if anything, it’s growing. But how that market operates is changing dramatically.
We’re moving toward a world where:
- Credit decisions are made faster and more accurately
- Hidden risks are identified before they become crises
- Investment capital flows more efficiently to deserving businesses
- Technology handles the tedious work while humans focus on strategy and judgment
- Financial systems are more transparent and accountable
CredCore exemplifies the kind of forward-thinking company that thrives in this environment. They’re not trying to replace the credit industry—they’re making it work better.
For high school students thinking about future careers, this is worth paying attention to. The intersection of technology and finance is creating entirely new job categories and opportunities. Whether you’re interested in computer science, economics, business, or mathematics, understanding how these fields come together will be increasingly important.
The question Saumil Annegiri and CredCore are answering is simple but profound: In a $5 trillion market where precision is everything, how do we harness the power of AI while ensuring absolute accuracy? Their answer—combining cutting-edge technology with deep human expertise and taking full responsibility for the results—might just be the blueprint for the future of financial technology.
And in a world where “almost right” really is “almost always wrong,” that precision could make all the difference.
