CARE Ratings enters into MoU with Tresata

Tresata’s Analytics Operating System will allow CARE Ratings to deliver superior products and services.

Aug 12, 2020 04:08 IST India Infoline News Service

CARE Ratings has signed a Memorandum of Understanding (MoU) with Tresata Inc., a global leader in AI and predictive analytics software, on the August 8, 2020 to join forces to launch predictive intelligence business solutions in India.

Tresata’s Analytics Operating System will allow CARE Ratings to deliver superior products and services that manage risk and identify opportunities by leveraging the latest advances in Artificial Intelligence and Data Science.

CARE Ratings will implement Tresata’s proprietary state of the art, cloud-based, analytics software to help transform CARE Ratings’ data management, data validation, analytical modelling and risk intelligence capabilities.

This partnership is unique in that it will not only leapfrog CARE’s analytical capabilities but also enable coinnovation to create intelligence solutions Indian corporations can depend on to further their ambitions.

“Tresata’s Analytics Operating System will power our core ratings applications which will help to revolutionize intelligence about businesses in India. In turn, this will assist in making data driven decisions - data collected and validated both from issuers and also from a variety of broader market sources over the years,” Ajay Mahajan, MD and CEO of CARE Ratings said.

With this System, the rating analysts will leverage the latest artificial intelligence & machine learning techniques to analyze client data when evaluating risk – both current and emerging.

Tresata would also be tying up with one of the group companies of CARE for building a market-wide distribution of fraud control systems and product capabilities, which are proprietary products of Tresata, in the Indian market.

“We are excited about our strategic partnership and the opportunity it provides Tresata to help CARE play an even bigger role in measuring, evaluating and strengthening the growth of India Inc.,” said Abhishek Mehta, Chairman, CEO and Co-founder of Tresata.

Care Ratings trade ended at Rs 401.30, down Rs9.45 or 2.30% from its previous closing of Rs410.75 on the BSE.

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