Collections Dossier: May 2023

RBI to step up regulations around fintechs, digital products: Governor Shaktikanta Das

The Reserve Bank of India (RBI) plans to enhance regulations around fintech companies' digital products to ensure financial stability and consumer protection. Governor Shaktikanta Das in a recent address said that FinTechs and the new emerging financial digital products pose both opportunities and risks, and asserted that the RBI is continuing to monitor and regulate the sector. Read more on how the central bank is exploring the possibility of a regulatory sandbox for fintech firms to test their products under a controlled environment.

Fintech revenues to grow sixfold by 2030: BCG

With shifting demographics, rapid advancements in native technology, and the pressing need for accelerating financial inclusion, it is expected that revenues of financial technology companies will grow sixfold to $1.5 trillion by 2030. Read more for an insight into the opportune dynamics of the Asia Pacific region’s economy, and what makes it the fulcrum of opportunities for fintech companies.

Digital debt collections: Empowering the financial services ecosystem - Rishabh Goel

The dynamic state of the global economy has created an opportune time for the widespread adoption of digital processes within the financial services industry. The evolving customer behavior, aided by greater financial literacy and enablement, has further accelerated this shift. The digitization of debt collections, through a range of multi-tech solutions, delivers cost-efficiency, effective compliance, and rapid credit expansion. Rishabh Goel , Co-founder and CEO, Credgenics , shares a few insights on the crucial role of technology in shaping the promising future of debt collections. Read More

Data and dignity: How data analysis is making debt collections borrower friendly - Anand Agrawal

The financial services industry is transitioning from the traditional generalized mode of engagement to hyper-personalized communications. Effectively utilizing AI, Machine Learning, and predictive analytics opens up a wide range of possibilities for comprehending data, deriving insights, and aligning strategies in various functions including debt collections.

Read this article by?Anand Agrawal , Co-founder and CPTO, Credgenics, to understand how data science helps understand borrowers better and transform the collections approach to make customer engagements more humane and dignified.

eBook: 5 myths in Debt Collections that lenders need to debunk in 2023

Lending is rapidly evolving and its core functions including collections are witnessing a dramatic transformation. The need to create a competitive advantage amidst rising demand for consumer credit, the urgency to cut down the operational costs, and the importance of a differentiated customer experience are necessitating a shift in debt recovery strategies. Read this eBook that debunks 5 common myths pertaining to loan collections, and outlines how innovation is driving the next wave of change.

Technoviti Awards 2023

Credgenics wins the esteemed Technoviti Awards 2023, presented by Banking Frontiers, for CG Collect, the field loan collections mobile platform.

This recognition, second in a row, celebrates the innovative spirit in the financial services industry and groundbreaking solutions that have the potential to propel the sector toward greater heights of success.

The award-winning platform enables banks, NBFCs, and other lending companies to digitize and optimize their field loan collections operations, and has been acknowledged for its innovative quotient, impact, and efficiency.

Credgenics turns operationally profitable, eyes Rs 240 crore revenue this fiscal

Credgenics has reached a remarkable INR 100 crore in revenue for the FY 2022-23, marking a stunning 7x growth over the past 18 months. This is a testament to the success of our market-leading integrated debt collections technology platform in helping banks and other lending companies reimagine their approach to collections. With an aim to continue scaling new heights, we are expecting to reach INR 240 crore in revenue for the current fiscal year. Read the full story to know how Credgenics is changing the game in debt collections.

CG AgentXcel

Introducing CG AgentXcel , the ultimate solution for evaluating collections agents' performance.

Designed to evaluate the performance of collections agents quickly, easily, and accurately, CG AgentXcel can analyze customer interactions and agent performance based on specific metrics. It provides comprehensive and actionable insights to improve overall efficiency. With CG AgentXcel, you can take a data-driven approach to collections agent performance management, identify areas for improvement, and ultimately drive better results for collections.

Customer Speaks?

At Credgenics, we take pride in providing our customers with innovative solutions to help them achieve their business objectives. Read how Credgenics has helped?Indifi, a leading digital lending platform, establish a seamless loan collections ecosystem, and what?Sachin Hans, Head of Collections, Indifi, has to say about the experience with Credgenics.

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