Dana Fintech Ltd
By Dana Fintech LtdDana AI – Smart Financial Matchmaking for credit underserved and rewards-based financial education for younger generation. In Bangladesh, millions remain underserved by formal credit—not due to a lack of eligibility, but because they’re invisible to traditional credit systems. Outdated comparison tools and manual banking processes fail to meet the needs of a digitally aware, mobile-first generation. Dana AI is transforming financial access. Our intelligent AI agent uses alternative data—including transaction history and digital footprints—to instantly assess affordability and match users with the right loans, financial products, and trusted advisors. For lenders and MFIs, Dana delivers automated, high-intent lead generation. For users, it’s fast, fair, and personalized financial matchmaking. Dana also offers gamified financial literacy and a rewards program, allowing users to earn cashback as they learn through bite-sized, engaging video content.
- Stage
- In pilot
- Industries
- Banking and finance
- Deployment
- Hybrid
Why it is worth it
Dana AI empowers the credit underserved in Bangladesh through intelligent financial matchmaking powered by alternative data, sales funnel automation for banks and financial institutions and gamifying financial literacy for the next gen z and millenials.
- 1. Difficulty Reaching Credit-Invisible Customers
- Pain Point: Traditional credit systems exclude millions due to lack of bureau data, even if they are eligible borrowers.
- Dana’s Solution: Uses alternative data (e.g., mobile transactions, digital behavior) to assess creditworthiness and expand reach to underserved segments, including gig workers, students, and informal earners.
- 2. Low Conversion Rates from Generic Lead Generation
- Pain Point: High-intent leads are hard to filter; traditional lead-gen campaigns often result in poor-quality or mismatched applicants.
- Dana’s Solution: AI-powered financial matchmaking ensures users are pre-qualified and well-matched to specific products, leading to higher conversion rates and reduced customer acquisition costs.
- 3. Manual, Slow, and Expensive Underwriting Process
- Pain Point: Traditional credit evaluation is time-consuming, paper-heavy, and costly, especially for small-ticket loans.
- Dana’s Solution: Offers real-time affordability checks and decisioning using AI—cutting down on manual assessment and operational costs.
- 4. Inability to Tap into Mobile-First, Digitally Native Users
- Pain Point: Financial institutions often lack tools to connect meaningfully with the growing base of young, mobile-savvy users.
- Dana’s Solution: Seamless, mobile-first UX combined with gamified financial literacy tools builds engagement, trust, and customer lifetime value—especially among Gen Z and Millennials.
- 5. High Cost and Low ROI of Traditional Credit Scoring Models
- Pain Point: Bureau-based models often don’t reflect the financial behavior of new or informal borrowers.
- Dana’s Solution: Provides a plug-and-play AI credit assessment engine using alternative data sources—faster, cheaper, and more inclusive.
- 6. Lack of Differentiation in a Competitive Lending Market
- Pain Point: Lenders struggle to stand out and offer tailored solutions in a crowded fintech ecosystem.
- Dana’s Solution: Enables personalized product recommendations and seamless advisor connection, creating a differentiated, value-added user journey.
- 7. Poor Engagement in Financial Education Campaigns
- Pain Point: Financial literacy efforts by banks and MFIs often fail to capture user interest or drive measurable behavior change.
- Dana’s Solution: Bite-sized, video-based content with cashback rewards makes learning engaging and effective—especially for youth segments.
Opening the deck…
Page 1
Best customer profile
- Ideal B2B Customer Profile for Dana AI:
- 1. Type of Company
- Lenders, Banks, and Non-Bank Financial Institutions (NBFIs): Especially those targeting retail consumers, microloans, SME financing, or digital lending.
- Microfinance Institutions (MFIs): Seeking to scale reach and reduce cost of lead acquisition and assessment.
- Digital-only or Mobile-first Financial Institutions: Who prioritize digital channels over physical branches.
- 2. Company Size
- Medium to large organizations that have:
- Existing digital infrastructure or mobile apps.
- Ambitions to grow user base and loan disbursement rapidly.
- Startups/Neobanks looking to launch or scale quickly without building in-house credit models.
- 3. Industry
- Financial Services, especially:
- Consumer lending
- Microcredit
- Digital wallets and BNPL
- Fintech platforms
- Secondary industries:
- Telecom and mobile money operators interested in embedded lending.
- E-commerce platforms looking to offer credit at checkout or build alternative credit scoring.
- 4. Use Case
- Need for automated, high-intent lead generation.
- Struggling with low conversion due to outdated eligibility filters.
- Difficulty reaching the "credit invisible" market (e.g., students, gig workers, informal sector).
- Desire to integrate alternative credit scoring (based on transaction history, mobile data, etc.).
- Seeking to reduce manual KYC, reduce operational costs, and speed up onboarding.
- 5. Specific Needs or Pain Points
- High customer acquisition cost due to manual processes.
- Low approval rates using traditional credit checks.
- Interest in serving underbanked or new-to-credit segments.
- Lack of internal capacity to build or manage AI models for affordability checks.
- Desire for a plug-and-play AI solution with real-time credit decisioning.
- Ideal End User (B2C) Profile for Dana Fintech
- 1. Demographics
- Age: 18–35 years (primarily Gen Z and young Millennials)
- Location: Urban and semi-urban areas in Bangladesh, with growing smartphone and internet penetration
- Income Level: Low to middle-income; typically monthly income between BDT 10,000–50,000
- Education Level: Secondary education or higher; tech-savvy, open to digital services
- 2. Occupation
- New job entrants, freelancers, gig workers, or those in the informal sector (not traditionally scored by banks)
- Students and recent graduates looking to understand personal finance and improve financial literacy
- Young professionals and first-time borrowers exploring credit options for education, consumption, or small business needs
- 3. Behavior & Lifestyle
- Mobile-first users who prefer using apps for banking, shopping, and payments
- Active on platforms like bKash, Nagad, Rocket, and digital wallets
- Interested in cashback, gamification, and rewards
- Open to self-education via video-based content, especially in Bengali
- Digitally curious but may have low trust in traditional financial systems
- 4. Pain Points
- Lack of credit history or poor access to formal credit due to being "invisible" to traditional scoring methods
- Frustration with complex or manual loan application processes
- Unawareness of which financial products fit their income, habits, or goals
- Want to learn about money but find most resources boring, hard to understand, or not relatable
- 5. Needs Dana Solves
- Instant, personalized loan matching based on digital behavior and affordability—not outdated bureau data
- Fast access to appropriate and fair financial products
- Rewards-based financial education that is fun, accessible, and in local language
- Ability to build a digital financial profile and become credit-visible over time
- Summary Persona Example:
- Name: Ayesha, 24
- Location: Chattogram
- Occupation: Freelance graphic designer
- Income: BDT 25,000/month
- Pain Point: Rejected by banks for a small loan because she has no credit history
- Need: Wants to understand financial products, build credit, and learn to manage money
- How Dana Helps: Matches her with a loan she can afford based on her mobile transactions and teaches her finance through short, rewarded videos.
Notable paying customers
- 1) SWAP Use Case: BNPL for smartphones, laptops, and electronics Revenue: 1% of sold product value + 5–6% supplier referral commission Risk: SWAP takes balance sheet risk Status: Active, commercial partner 2) AjkerDeal Use Case: SME lending via Dana's embedded scoring system Revenue: Loan-based commission model Status: Pilot completed, continued partnership confirmed 3) Delivery Tiger Use Case: Digital SME loans for platform merchants Revenue: Per-loan fee from bank; Dana earns on scoring & integration Status: Commercially active 4) iFarmer Use Case: Agent-led agro loans for farmers Revenue: Dana earns from scoring and loan enablement Status: Operational 5) United Commercial Bank (UCB) Use Case: Digital loans to farmers via Dana’s credit scoring engine Revenue: Dana charges 1% per loan amount disbursed Status: Live deployment and commercial activity 6) Nagad Use Case: Wallet-based credit scoring and EWA offering Revenue: Per score or subscription fee model Status: Active integration 7) TAP Use Case: Credit scoring, EWA, and embedded lending Revenue: Subscription and per-transaction fee model Status: Commercial agreement in place
Key Milestones Achieved Funding & Grants Dana has secured significant early-stage capital and validation: Raised USD 325,000 in seed funding. Dana Fintech is backed by Accelerating Asia and also awarded a grant of BDT 7.5 million (approx. USD 61,000) by winning the Fintech Innovation Challenge 2022, a prestigious competition organized by FinLab BD, a joint initiative of Aspire to Innovate (a2i) under the ICT Division of the Government of Bangladesh, UNCDF, and MicroSave Consulting. Product Development Successfully launched Dana AI — a smart financial matchmaking engine tailored for credit-underserved populations. Integrated multiple products including: - Credit Score Builder - Digital Loans - BNPL (Buy Now Pay Later) services - Enterprise Partnerships & Use Cases Collaborated with leading platforms such as AjkerDeal, Delivery Tiger, Nagad, TAP , iFarmer and Lanka Bnagla Finance to embed Dana's lending and credit scoring APIs into their ecosystems. Revenue Milestones: Monetization through various models: We got $15k in one month from our customers. Technical Breakthroughs: - Developed a proprietary credit scoring engine — the only one of its kind in Bangladesh — incorporating behavioral analytics, tokenization, and bank statement OCR. - Built a digital lending platform with embedded APIs/SDKs, allowing partners to launch loan, deposit, and EWA products within hours. Pilot & Early Adoption - Piloted lending operations by taking balance sheet risk to prove credit scoring effectiveness, customer behavior, and platform reliability. - We are going to introduce AI powered chatbot and AI agent for personal and business finace within next 1 month. Currently it's in pilot phase.