GURUGRAM, INDIA — True Balance, India's leading AI fintech platform, co-hosted the "Korea-India AI Financial Inclusion Conference" on 9 September 2026, advancing its "Finance for All" mission through cross-border research and policy dialogue. Held in hybrid format connecting Gurugram and Seoul, the event was organized with the South Asia Center of the Asia Institute at Seoul National University (SNU).
The conference highlighted how True Balance uses AI to assess creditworthiness for "thin-file" borrowers who lack conventional credit histories, drawing on consent-based alternative data alongside traditional bureau scores. Afinit, the parent company of True Balance, and SNU have jointly filed a patent for an AI credit-scoring technology built to refine evaluations for previously unapproved customers. Over the past year, AI-led credit models deployed at True Balance have driven a multi-fold rise in eligible-applicant approvals, more than halved relative default rates, and more than doubled the accuracy of credit-risk predictions.
The opportunity is significant: new-to-credit consumers' share of retail loan originations in India fell from 32% in March 2017 to 13% in March 2026, even as semi-urban and rural consumers grew to 63% of the country's credit-active population, up from 53% nine years earlier, according to a July 2026 TransUnion CIBIL report. Additionally, based on FACE data, the share by sanction volume of Digital NBFCs stands at almost 80%.
"Our core mission has always been to leverage technology to bring the underserved into the formal financial ecosystem, ensuring that 'Finance for All' is not just a slogan, but a daily reality. This conference validates our belief that by uniting AI innovations with cross-border, public-private partnerships, we can create practical solutions that empower thin-filers and drive genuine, widespread financial inclusion across India."
— Charlie Lee, CEO, True Balance
The Delhi segment, moderated by Professor Narain (University of Delhi), brought together Professor Ram Singh (Delhi School of Economics), Sugandh Saxena (Fintech Association for Consumer Empowerment), and Puja Mehra (ICRIER) to discuss the evolving role of NBFCs and AI's expanding social applications. The Seoul segment, opened by Director Kang Sung-yong, featured a keynote from Oh Hwa-se of South Korea's Financial Services Commission and research insights from Dr. Aditi Singh of Seoul National University on AI's impact on financial inclusion.
"Cross-border dialogue and collaboration are vital as we harness AI to deepen financial inclusion. Platforms like this conference demonstrate how responsible lending principles and advanced technology can come together to expand access to credit safely and ethically for underserved populations across markets, building a truly inclusive financial architecture."
— Sugandh Saxena, CEO, Fintech Association for Consumer Empowerment (FACE)
The conference set a benchmark for public-private-academic collaboration, reinforcing the commitment of True Balance to deliver "Finance for All" through practical, cross-border AI innovation.
About True Balance India Private Limited
True Balance is an AI-powered financial services platform operated by True Balance India Private Limited (formerly known as Balancehero India Private Limited). A unified hub for all financial needs, the True Balance platform provides a comprehensive suite of digital financial solutions focusing on democratizing credit for the underserved and underbanked populations across India.
Operating at the intersection of global technology standards and deep local market insights, the company utilizes advanced AI-backed proprietary credit-scoring to deliver seamless and responsible finance. This technology-first approach allows True Balance to effectively bridge the credit gap for the 'Next Billion' users seeking secure and dependable financial access.
The company operates under a robust regulatory framework, holding a Prepaid Payment Instrument (PPI) license and facilitating credit through its RBI-licensed subsidiary NBFC, True Credits Private Limited. Backed by marquee global institutions including SoftBank, Naver, and Line, True Balance operates an extensive pan-India network with deep penetration across every district in the country. Headquartered in Gurugram, the company is a key contributor to the Digital India and Viksit Bharat visions, serving as a trusted financial partner in the nation's journey toward financial empowerment.
About AFINIT
AFINIT is a Korean AI fintech company driving financial innovation in India, guided by its vision of "Finance for All." Founded in 2014 by CEO Cheol-won Lee, an entrepreneur with extensive experience building and managing businesses in global markets, AFINIT develops and operates an Alternative Credit Scoring System (ACS) and True Balance, an AI Finance Decisioning Platform powered by ACS. Through these technologies, the company aims to serve approximately one billion people in India with low-to-mid credit scores or limited access to financial services. Backed by leading global investors including SoftBank, AFINIT seeks to become the leading AI financial platform for India's next billion people and advance financial inclusion worldwide.